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1 Required Required 2 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. Work
1 Required Required 2 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $5,300 4,500 $ 9,800 Source documents revealed the following during March: Materials Requisitions Forms $ 3,800 Job 33 Labor Time Status of Job Tickets at Month-End Completed and $ 5,500 sold 4,400 Completed, but not sold 3,600 In process 3,000 $ 16,500 Job 34 Job 35 Indirect 3,000 3,100 800 $ 10,700 The company applies overhead to products at a rate of 50 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. Complete this question by entering your answers in the tabs below. Required Required 1 2 Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Cost Job 33 Job 34 Job 35
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