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Stine Company uses a job order cost system. On May 1, the company has a...

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Accounting

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of
$3,920 and two jobs in process: Job No.429 $2,600, and Job No.430$1,320. During May, a summary of source documents
reveals the following.
Stine Company applies manufacturing overhead to jobs at an overhead rate of 62% of direct labor cost. Job No.429 is
completed during the month.
(a)
Your answer is partially correct.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.)
o. Date Account Titles and Explanation
Credit
.) May Work in Process Inventory
Manufacturing Overhead
!)31, Work in Process Inventory
Manufacturing Overhead
Factory Labor
31, Work in Process Inventory
Manufacturing Overhead
t)31, Finished Goods Inventory
Work in Process Inventory
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