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Help, and it would really help me if you could explain what you plugged in to get the answers. Thanks Oak Creek Furniture Factory (OCFF),
Help, and it would really help me if you could explain what you plugged in to get the answers. Thanks
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 process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $5,100 2,700 $3,800 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 2,700 $ 5,600 Completed and sold Job 34 2, BOO 4,200 Completed, but not sold Job 35 In process Indirect 1,200 2,700 $ 11,600 $ 15,500 4,900 3,000 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 transaction/event, select "No Journal Entry Required" in the first account field.) View transaction let 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 transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet > Record the issuance of raw materials production Note: Enter debits before credits Transaction General Journal Debit Credit Indirect 1,200 $ 11,600 2,700 $ 15,500 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 transaction/event, select "No Journal Entry Required in the first account field.) View transaction list 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 Indirect 1,200 $ 11,600 2,700 $ 15,500 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 transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the application of manufacturing overhead to production. Note: Enter debits before credits Transaction General Journal Debit CreditStep by Step Solution
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