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Exercise 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Materials Requisition Slips For Labor Time Tickets Job No. 221 $1,200 1,700 2,400 2,600 600 $8,500 $2,100 2,200 2,900 2,800 400 $10,400 223 224 General use Totals Foster applies manufacturing overhead to jobs at an overhead rate of 70% of direct labor cost. Job No. 221 is completed during the month

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