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Will Rate. Thank you! Sunland Company uses a job order cost system. On May...

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Accounting

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Will Rate. Thank you!

Sunland Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,810 and two jobs in process: Job No. 429$2,330, and Job No. 430 \$1,480. During May, a summary of source documents reveals the following. Sunland Company applies manufacturing overhead to jobs at an overhead rate of 61% 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.)

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