CHAP EXERCISES E2-1 Posting Direct Materials, Direct Labor, and Applied Overhead to T-Accounts, Calculating Ending Balances Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to trac the cost of each customer order. On March 1, OCFF had two jobs in process with the following cost Work in Process Job 33 Job 34 Balance on 3/1 $ 7,500 6,000 $13,500 Source documents revealed the following during March: Materials Requisitions Forms Job 33 $ 3,500 Job 34 6,000 Job 35 4,200 Indirect 1,300 $15,000 Labor Time Tickets Status of Job at Month-End $ 6,500 7,800 Completed and sold Completed, but not sold 3,250 In process 2,140 $19,690 The company applies overhead to products at a rate of 150 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 Goods Sold accounts at month-end.