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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: Balance on 3/1 Work in Process Job 33 Job 34 $ 5,000 3,200 $ 8,200 Job 33 Job 34 Job 35 Indirect Source documents revealed the following during March: Materials Requisitions Forms $ 2,300 3,100 Tickets Labor Time $ 5,600 Status of Job at Month-End Completed and sold 3,100 Completed, but not sold 4,600 3,500 In process 1,200 $11,200 2,600 $ 14,800 The company applies overhead to products at a rate of 55 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Job 33 Job 34 Job 35 Cost Required 1 Required 2 > Required 1 Required 2 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month- end. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold
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