Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,810 and two jobs in process: Job No 429 $2,330 and Job No. 430 $1,480.

During May, a summary of source documents reveals the following:

Job NumberMaterials Requisition Slips Labor Time Tickets
429$2,870 $2,200
4303,930 3,350
4314,930$11,7308,120$13,670
General use 980 1,700
$12,710 $15,370
Stine Company applies manufacturing overhead to jobs at an overhead rate of 61% of direct labor cost.

Job No. 429 is completed during the month.

Required:

a) Prepare summary journal entries to record:

(1) the requisition slips,

(2) the time tickets,

(3) the assignment of manufacturing overhead to jobs, and

(4) the completion of Job No. 429.

(Round answers to 0 decimal places)

Accublade castings inc. casts blades for turbine engines. within the casting department, alloy is first melted in a crucible, then poured into molds to produce the castings. on may 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. the work in process balance for these 230 pounds was $32,844, determined as follows: exercises during may, the casting department was charged $350,000 for 2,500 pounds of alloy and $19,840 for direct labor. factory overhead is applied to the department at a rate of 150% of direct labor. the department transferred out 2,530 pounds of finished castings to the machining department. the may 31 inventory in process was 44% complete as to conversion. prepare the following may journal entries for the casting department: the materials charged to production the conversion costs charged to production the completed production transferred to the machining department determine the work in process"casting department may 31 balance.

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