E2-2 Stine Company uses a job order costsystem. On May 1 t

E2-2 Stine Company uses a job order costsystem. On May 1 the company has a balance in Work in Process Inventory of$3500 and two jobs in process: Job No. 429 $2000 and job no. 430 $1500.During May a summary of source documents reveals the following. Job Number Materials Labor Requisition Slips Time Tickets 429 $2500 $1900 4303500 3000 431 4400 $10400 7600 $12500 General use ___ 800 1200 $11200 $13700 StineCompany applies manufacturing overhead to jobs at an overhead rate of 60% ofdirect labor cost. Job No. 429 is completed during the month. Instructions Prepare summary journal entries torecord (i) the requisition slips (ii) the time tickets (iii) the assignmentof manufacturing overhead to jobs and (iv) the completion of Job No. 429. Post the entries to Work in ProcessInventory and prove the agreement of the control account with the job costsheets. (Use a T-account.)

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