CALCULATOR PRINTER VERSION

cmcuLATOR BACK Exercise 2-2 (Video) Stine Company uses job order Cost system. On May t, the company has B balance in Work In Process Inventory of $3,970 and two jobs in process: Job No. 429 $2,220, and Job No. 430 $1,750, During May, summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips Labor Time Tickets $2,620 3,720 4,S70 $2,100 3,100 7,900 511,210 $12,200 $13,100 1,480 $14,580 Stine Company applies manufacturing overhead to jobs at an overhead rate of of direct labor cost. Job No. 429 is completed during the month. 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 comptetion of Job NO. 429. (Credit account titles are automatically indented when amount is entered. DO not indent manually.) NO. Date Account Titles and Explanation (i) May 31 Debit Credit