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Exercise 15-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two jobs in process: Job No. 429 $2,330, and Job No. 430 $1,750. During May, a summary of source documents reveals the following Materials Requisition Slip:s Labor Time Tickets Job Number 429 430 431 General use $2,790 4,080 4,830 $2,130 3,460 8,160 $11,700 960 $12,660 $13,750 1,680 $15,430 Stine Company applies manufacturing overhead to jobs at an overhead rate of 64% of direct labor cost. Job No. 429 is completed during the month.

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 part. Round answers to 0 decimal places, e.g. 5,275.) Work in Process Inventory May 1 Balance+ May 31 May 31 May 31 May 31 Balance Job Cost Sheets Direct Material Direct Labor Manufacturing Overhead Job Beginning Work Total in Process No. 430 $ 431Exercise 15-2

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Post the entries to Work-in Process Inventory:

Work in Process Invento May 31, Finished Goods Imventory (S2,330 S2,790+ S2,130+ 8,613 May 1, Balance May 31, Raw Materials Inventory May 31, Factory Labor May 31, Manufacturing Overhead ($13,750 64/100 S4,080 (S2,130 64/100) $11.700 S13,750 S8,800 May 31, Balance S29,717 $38,330 May 31, Balance S29,717

Job Cost Sheets:

Job Cost Sheets Beginning Work-in Direct Manufacturing Job No. Process (S) Material (S) Direct Labor (S) Overhead (S) Total (

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