Stine Company uses a job order cost system. On May 1, the company has a balance

Question

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,630 and two jobs in process: Job No. 429 $2,190, and Job No. 430 $1,440. During May, a summary of source documents reveals the following.

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.

1)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.

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

Any help would be awesome

Job Number Materials
Requisition Slips Labor Time
Tickets 429 $2,980 $2,180 430 3,870 3,150 431 4,630 $11,480 7,940 $13,270 General use 988 1,530 $12,468 $14,800

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