Robert Perez is a contractor specializing in custom-built jacuzzis. On May 1, 2014, his ledger contains the following data.

Raw Materials Inventory                         $30,000
Work in Process Inventory                        12,200
Manufacturing Overhead                            2,500 (dr.)

The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000. Subsidiary data for Work in Process Inventory on May 1 include:

                    

During May, the following costs were incurred: raw materials purchased on account $4,000, labor paid $7,000, and manufacturing overhead paid $1,400.

A summary of materials requisition slips and time tickets for the month of May reveals the following.

                         

Overhead was charged to jobs on the basis of $0.70 per dollar of direct labor cost. The jacuzzis for customers Stiner, Alton, and Herman were completed during May. The three jacuzzis were sold for a total of $36,000.

Instructions
(a) Prepare journal entries for the May transactions:

(i) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred;
(ii) assignment of raw materials, labor, and overhead to production; and
(iii) completion of jobs and sale of goods.

(b) Post the entries to Work in Process Inventory.
(c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs.
(d) Prepare a cost of goods manufactured schedule for May.