Second part to the same question.

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

Exercise 16-2 (Part Level Submission) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,260 and two jobs in process: Job No. 429 $2,460, and Job No. 430 $1,800. During May, a summary of source documents reveals the following. Job Number 429 430 431 Materials Requisition Slips $3,090 3,780 4,690 $11,560 General use Labor Time Tickets $2,060 3,190 8,080 $13,330 950 1,470 $12,510 $14,800 Stine Company applies manufacturing overhead to jobs at an overhead rate of 70% of direct labor cost. Job No. 429 is completed during the month. (a) Your answer is correct. Prepare summary journal entries to record (i) the requisition slips, (ii) the time tickets, (iii) the assignment of manufacturing overhead to jobs, and (iv) the completion of Job No. 429.(Credit account titles are automatically indented when amount is entered. Do not indent manually.) No . (i) Date May 31 Account Titles and Explanation Work in Proce Debit Credit 11560 950 Raw Materials (ii) 31 12510 Work in Proce 13330 Manufacturing 1470 Factory Labor (iii) 31 Work in Proce 14800 9331 Manufacturing (iv) 31 Finished Good Work in Proce 9331 9052 9052 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 2 of 3 used (b) Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries in the order of journal entries presented in the previous question.) Work in Process Inventory Job No. 430 Beginning Work in Process Direct Material $ $ $ $ Job Cost Sheets Manufacturin Direct g Labor Overhead $ $ Total $ 431 Click if you would like to Show Work for this $ $ $