Nami Yee is a contractor specializing in custom-built jacuzzis. On my 1, 2012 her 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 of May 1 include: Job Cost Sheets Job by Customer Direct Materials Direct Labor Manufacturing Overhead Scott $2,500 $2,000 $1,400 Condon 2,000 1,200 840 Keefe 900 800 560 __________ __________ __________ $5,400 $4,000 $2,800 During May, the follwoing cost where incurred: (a) raw materials purchased on account $4,000, (b) labor paid $7,600, and (c) manufacturing overhead paid $1,400. A summary of materials requistions slips and time tickets for the month of May reveals the following. Job by Customer Materials Requisition Slips Time Tickets Scott $ 500 $ 400 Condon 600 1,000 Keefe 2,300 1,300 Tarr 1,900 2,900 _______________ ___________ 5,300 5,600 General use 1,500 2,000 _______________ ___________ $6,800 $7,000 Overhead was charged to jobs on the basis of $0.70 per dollar of direct labor cost. The jacuzzi for customers Scott, Condon, and Keefe were completed during May. Each jacuzzi was sold for $12,00 cash. 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 manufacture schedule for May