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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: Work in Process Job 33 Job 34 Balance on 3/1 $ 5,200 3,500 $ 8,700 Source documents revealed the following during March: Materials Requisitions Forms Labor Time Tickets Job 33 $ 2,400 $ 4,300 Status of Job at Month-End Completed and sold Job 34 Job 35 Indirect 3,400 4,600 3,900 Completed, but not sold 3,400 In process 700 1,600 $ 11,100 $ 13,200 The company applies overhead to products at a rate of 75 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. Required 1 Required 2 Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Cost Job 33 Job 34 Job 35 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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