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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 Balance on 3/1 $7,500 Job 34 6,000 $13,500 Source documents revealed the following during March: Labor Materials Requisitions Time Forms Job 33 $3,500 $6,500 Tickets Status of Job at Month-End) Completed and sold Job 34 6,000 7,800 Completed, but not sold Job 35 Indirect 4,200 3,250 In process 1,300 2,140 $15,000 $19,690 The company applies overhead to products at a rate of 150 percent of direct labor cost. Required: Prepare journal entries to record the materials requisitions, labor costs, and applied overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the issuance of raw materials to production. Note: Enter debits before credits. Transaction. General Journal Debit Credit a Work in Process Inventory Manufacturing Oathead Record entry Clear entry View general journal
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