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Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,140 and two jobs in process: Job No. 429 $2,450, and Job No. 430 $1,690. During May, a summary of source documents reveals the following.

l Sprint 8:56 PM 99% Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,140 and two jobs in process: Job No. 429 $2,450, and Job No. 430 $1,690. During May, a summary of source documents reveals the following. Brief Exercise 204 & Brief Exercise 20-3 $2,160 3,360 ,870 11,400 8,030 429 $2,920 3,610 a Exerse 20-21Part $13,5s0 1,600 $15,150 General use Benew scorn $12,360 Stine Company applies manufacturing overhead to jobs at an overhead rate of 65% of direct labor cost. Job No. 429 is completed during the month Prepare summary journal entries to record (1) the requisition sips, (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 manualy, Round answers to 0 decimal places, e.g. S,275) Na. Date Accseat Titles and Esplasation (1) May 31 (2) 31 (3) 31 (4) 31 LIST OF ACCOUNTS Post the entries to Werk in Process Inventory, and prove the agreement of the control account with the job cost sheets (Post entries in the order of journal entries presented in the previous part. Round answers to 0 decimal places, e-g.5,275) Work in Process Inventory ob Beginning Work 431

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