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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 $4.130 and two

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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 $4.130 and two jobs in process: Job No. 429 $2,370, and Job No. 430 $1.760. During May, a summary of source documents reveals the following: Job Number 429 430 431 General use Materials Requisition Slips $3,090 3,960 4,820 $11.870 960 $12,830 Labor Time Tickets $2,100 3,300 8,200 $13,600 1,320 $14.920 Stine Company applies manufacturing overhead to jobs at an overhead rate of 69% 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.) Debit Credit No. Date Account Titles and Explanation May (1) 31 (2) 31 (3) 31 (4) 31 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.) Work in Process Inventory Job No. Beginning Work in Process Direct Material Job Cost Sheets Direct Labor Manufacturin Overhead 430 $ 431 $ $ Job Cost Sheets Direct Labor Manufacturing Overhead Total $ $ $ $ $ $

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