E2-2 (Algo) Preparing Journal Entries [LO 2-S1] 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 $5,000 3,700 $8,700 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 3,300 $ 4,800 Completed and sold Job 34 3,000 3,300 Completed, but not sold Job 35 3,200 3,800 In process Indirect 1,000 2,900 $ 10,500 $ 14,800 The company applies overhead to products at a rate of 75 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 transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 2 3 > Record the issuance of raw materials to production. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal Journal entry worksheet Record Oak Creek Furniture Factory's payroll costs. Assume the direct labor is owed but not paid. Note: Enter debits before credits. Transaction General Journal Debit Credit b Record entry Clear entry View general journal Journal entry worksheet Record the application of manufacturing overhead to production. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal