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1.Record the issuance of raw materials to production. 2.Record Oak Creek Furniture Factorys payroll costs. Assume the direct labor is owed but not paid. 3.Record
1.Record the issuance of raw materials to production.
2.Record Oak Creek Furniture Factorys payroll costs. Assume the direct labor is owed but not paid.
3.Record the application of manufacturing overhead to production.
Oak Creek Furniture Factory (OCFF), a custom funiture 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 Proces5 Balance on 311 $ 4,200 Jab 33 Job 34 4,200 $ 8,400 Source documents revealed the following during March: Materials Labor Time Requisitions Tickets Form $ Status of Job at Month-End Completed and sold Job 33 Job 34 Job 35 Indirect 3.300 3,600 3,700 1,400 5.200 4,900 Completed, but not sokd 3,600 n process 2,700 12,000 16,400 The company applies overhead to products at a rate of 55 percent of direct labor cost. Required: Prepare journal entries to record the materials requisitions, labor costs, and applied overhead. (If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.)Step by Step Solution
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