1.  
2.  
3. 1. Prepare summary journal entries to record
4. (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429.

2. Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets.

Transcribed Image Text:

Sunland Company uses a job order cost system. On May 1, the company has balances in Raw Materials Inventory of $15.700 and Work in Process Inventory of $4,210 and two jobs in process: Job No. 429 $2.420, and Job No. 430 $1.790, During May, the company incurred factory labor of $14,710. A summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $3,020 3.740 4,920 $11,680 960 $12,640 Labor Time Tickets $2,290 3.100 7,800 $13,190 1,520 $14,710 Sunland Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No.429 is completed during the month. Sunland Company uses a job order cost system. On May 1, the company has balances in Raw Materials Inventory of $15.700 and Work in Process Inventory of $4,210 and two jobs in process: Job No. 429 $2.420, and Job No. 430 $1.790, During May, the company incurred factory labor of $14,710. A summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $3,020 3.740 4,920 $11,680 960 $12,640 Labor Time Tickets $2,290 3.100 7,800 $13,190 1,520 $14,710 Sunland Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No.429 is completed during the month.