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Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,210 and two

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,210 and two jobs in process: Job No. 429 $2,420, and Job No. 430 $1,790. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $3,020 $2,290 430 3,740 3,100 431 4,920 $11,680 7,800 $13,190 General use 960 1,520 $12,640 $14,710 Stine Company applies manufacturing overhead to jobs at an overhead rate of 62% of direct labor cost. Job No. 429 is completed during the month. Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275

Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries in the order of journal entries presented in the previous part. Round answers to 0 decimal places, e.g. 5,275.)

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