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Sunland Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,290 and
Sunland Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,290 and two jobs in process: Job No. 429 $1,880, and Job No. 430 $1,410. During May, a summary of source documents reveals the following Job Number Materials Requisition Slips Labor Time Tickets 429 $2,350 $1,800 430 3.290 2,820 431 4,150 $9,790 7,150 $11,770 General use 780 1,100 $10,570 $12,870 Sunland Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labar cost. Job No. 429 is completed during the month.
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