CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 20-02 a-b Crane Company uses a job order cost system. On May 1, the company has a balance in During May, a summary of source documents reveals the following. Work in Process Inventory of $4,010 and two jobs in process: Job No. 429 $2,590, and Job No. 430 $1,420. Materials Labor Time Tickets Job Number 429 430 431 General use Requisition Slips $2,760 2,300 3,400 3,860 4,950 $11,570 7,800 $13,500 910 1,700 15,200 $12,480 Crane Company applies manufacturing overhead to jobs at an overhead rate of 61% of direct labor cost. Job No. 429 is completed during the month. and (4) the completion of Job No. 4 Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit (1) May 31