P20-3B Nami Yee is a contractor specializing in custom-built jacuzzis. On May 1, 2012, her ledger contains the following data Raw Materials Inventory $30,000 Work in Process Inventory 12,200 Manufacturing Overhead 2,500 (dr.) The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000 Subsidiary data for Work in Process Inventory on May 1 include: Job Cost Sheets Job by Customer Direct Materials Direct Labor Manufacturing Overhead Scott $2.500 $2,000 $1,400 Condon 2,000 1.200 Keefe 900 800 560 C5400 54.000 $2,800 840 During May, the following costs were incurred: (a) raw materials purchased on account $4.000 (b) labor paid $7,600, and (c) manufacturing overhead paid $1,400 A summary of materials requisition slips and time tickets for the month of May reveals the following Tar Job by Customer Materials Requisition Slips Time Tickets Scott S 500 $ 100 Condon 600 1,000 Keele 2,300 1,300 1,900 2,900 5.300 5,600 Ceneral use 1,500 2,000 56.800 57.600 Overhead was charged to jobs on the basis of 50.70 per dollar of direct labor cost. The jacuzzis for customers Scott, Condon, and Keefe were completed during May. Each jacuzzi was sold for S12.000 cash Instructions (a) Prepare joumal entries for the May transactions for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; assignment of raw materials, labor, and overhead to production and (iii) completion of jobs and sale of goods (b) Post the entries to Work in Process Inventory (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished che (d) Prepare a cost of goods manufactured schedule for May