Please show any values you used for any calculations. I f there are any question

Question

Please show any values you used for any calculations. If there are any questions about problem I am trying to check back often, leave a comment and I will reply.

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,100 and two jobs in process: Job No. 429 $2,410, and Job No. 430 $1,690. During May, a summary of source documents reveals the following.

Job Number

Materials
Requisition Slips

Labor Time
Tickets

429

$2,820

$2,210

430

3,940

3,460

431

4,990

$11,750

7,700

$13,370

General use

984

1,750

$12,734

$15,120

Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month.

(a) 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.

(b)Post the entries to Work in Process Inventory, and prove the agreement of the controll account with the job sheets. (use T account)

Accounts List--------

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Cash
Cost of Completed Service Contracts
Cost of Goods Sold
Depreciation Expense
Employer Fringe Benefits Payable
Employer Payroll Taxes Payable
Factory Labor
Factory Wages Payable
Finished Goods Inventory
Manufacturing Overhead
Operating Overhead
Prepaid Property Taxes
Raw Materials Inventory
Salaries and Wages Expense
Salaries and Wages Payable
Sales
Service Contracts in Process
Supplies
Utilities Payable
Work in Process Inventory

Job Number

Materials
Requisition Slips

Labor Time
Tickets

429

$2,820

$2,210

430

3,940

3,460

431

4,990

$11,750

7,700

$13,370

General use

984

1,750

$12,734

$15,120

Post the entries to Work in Process Inventory, and prove the agreement o-f the control account with the job cost sheets. (Post entries in the order of journal entries presentee in the previous question.)

Explanation / Answer

i think this can help u a lot

this is a video ...

https://www.youtube.com/watch?v=PZmUvapP9k8

please ask if you have any doubt

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.