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Please complete Exercise as follows: Mitsy's Manufacturing Company accounts for jobs using a job order...

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Accounting

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Please complete Exercise as follows: Mitsy's Manufacturing Company accounts for jobs using a job order costing system. On April 1, They have a $4,200 balance in their Work in Process at the beginning of April. This consists of two jobs: Job Number 534 beginning balance is $2,500 and Job Number 535 beginning balance is $1,700. During April, a summary of the Materials Requisition Slips and Labor Time Sheets gives the following information: Job Number 534 535 536 Indirect Material Labor Requisition Time Slips Sheets 2,500.00 1,900.00 3,500.00 3,000.00 4,400.00 7,600.00 800.00 1,200.00 11,200.00 13,700.00 Mitsy's Manufacturing applies manufacturing overhead to jobs at a overhead rate of 80% of direct labor costs. Job 535 is completed during the month. Required A) Prepare journal entries fo record: The requisition slips. (One combined entry for all jobs.) The time sheets. (One combined entry for all jobs.) Overhead assigned. (One combined entry for all jobs.) The completion of Job 535 B) Create a T Account and post the entries to Work in Process. C) Create Job Cost Sheets for Job 534 and Job 536 that reconcile in total with the T Account for Work in Process

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