Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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 $ 4,400 3,600 $ 8,000 Source documents revealed the following during March: Materials Requisitions Forms Job 33 $ 3,200 Job 34 3,400 Job 354 ,000 Indirect 1,100 $ 11,700 Labor Time Tickets Status of Job at Month-End $ 5,500 Completed and sold 4,200 Completed, but not sold 3,600 In process 1,300 $ 14,600 The company applies overhead to products at a rate of 60 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Cost Job 33 Job 35
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started