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Stine Company uses a job order cost system. On May 1, the company has balances in Raw Materials Inventory of $15,000 and Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, the company incurred factory labor of $13,700. A summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $2,500 3,500 4,400 $10,400 800 $11,200 Labor Time Tickets $1,900 3,000 7,600 $12,500 1,200 $13,700 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) Record the May 1 inventory balances and the factory labor incurred. (b) Record (1) material usage from requisition slips, (2) factory labor usage from time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. Stine Company uses a job order cost system. On May 1, the company has balances in Raw Materials inventory of $15,000 and Work in Process Inventory of $3,500 and two jobs in process: Job No. 429$2,000, and Job No. 430$1,500. During May, the company incurred factory labor of $13,700. A summary of source documents reveals the following. 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) Balances (a) Incurred factory labor (b) Direct materials (b) Indirect materials (b) Indirect labor (b) Assign Manufacturing Costs (b) Completion Iaboring of job (b) Balancer

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