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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:
13. 0.64 points Oak Creek Fumiture 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 tollowing costs Work in Process Balance on 3/1 $ 4.900 Job 33 Job 34 3.000 $ 7.900 Source documents revealed the following during March: Materials Labor Time Requisitions Tickets Status of Job at Month-End Job 33 S 2,800 S 5,700 Completed and sold Job 34 Job 35 Indirect 3,200 4,000 1.400 240 4,700 Completed, but not sold 2,700 In process 2,400 S 11,400 15,500 The company applies overhead to products at a ate of 65 percent of direct labor cost Required Prepare joumal entries to record the materials requisitions, labor costs, and applied ovemead. (lf no entry is required for a transactionievent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of raw materials to production Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journalStep by Step Solution
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