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Sheffield Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,510 and two jobs in process: Job No. 429 $2,150, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Job Number (a) General use 429 430 431 (2) (3) (1) (4) Materials Requisition Slips $2,970 4,100 May 31 4,540 $11,610 31 900 $12,510 Your answer is partially correct. Sheffield Company applies manufacturing overhead to jobs at an overhead rate of 68% of direct labor cost. Job No. 429 is completed during the month. No. Date Account Titles and Explanation Prepare summary jour al 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.) Work in Process Inventory Manufacturing Overhead Raw Materials Inventory 31 Work in Process Inventory Manufacturing Overhead Factory Labor $2,100 Work in Process Inventory Labor Time Tickets 3,200 Manufacturing Overhead 31 Finished Goods Inventory 8,100 $13,400 Work in Process Inventory 1,590 $14,990 Debit 11610 900 13400 1590 9112 7020 Credit 12510 14990 9112 7020

Shetfield Company uses a job order cont system On May 1, the company hos a balance in Work in Process tinventory of 53.510 and two jobs in process: Job No 429 \$2.150, and Job Na 430 \$1,360. During Masa summary of saurce docaments reveals the followirn. Shetfield Company applies manuf acturing overhead to jobs at an overhead rate of 68% of direct babor cost. Job No. 429 is campleted during the month. Prepare summary joun al 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 Ne. 429. (Credit occount tities are outomatically indented when arnount is entered. Do not indent monualy) Shetfield Company uses a job order cont system On May 1, the company hos a balance in Work in Process tinventory of 53.510 and two jobs in process: Job No 429 \$2.150, and Job Na 430 \$1,360. During Masa summary of saurce docaments reveals the followirn. Shetfield Company applies manuf acturing overhead to jobs at an overhead rate of 68% of direct babor cost. Job No. 429 is campleted during the month. Prepare summary joun al 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 Ne. 429. (Credit occount tities are outomatically indented when arnount is entered. Do not indent monualy)

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