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Item 9

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 ProcessBalance on 3/1Job 33$ 5,100Job 343,400 $ 8,500

Source documents revealed the following during March:

Materials Requisitions FormsLabor Time TicketsStatus of Job at Month-EndJob 33$ 2,400$ 4,100Completed and soldJob 343,0003,700Completed, but not soldJob 353,7003,500In processIndirect7002,900 $ 9,800$ 14,200

The company applies overhead to products at a rate of 60 percent of direct labor cost.

Required:

Prepare journal entries to record the materials requisitions, labor costs, and applied overhead.