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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 $ 5,500 4,600 $ 10,100 Source documents revealed the following during March Materials Requisitions Forms $ 2,900 3,700 Job 33 Job 34 Job 35 Indirect 4,800 1,100 $12,500 Labor Tine Tickets $ 4,000 Completed and sold Status of Job at Month-End 3,100 3,400 1,400 Completed, but not sold In process $ 11,900 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 REGLASS Required 2 > Seved 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 $ 5,500 4,600 $ 10,100 Source documents revealed the following during March: Materials Requisitions Labor Time Job 33 Job 34 Forms $ 2,900 Tickets Status of Job at Month-End $ 4,000 3,700 3,100 Completed and sold Completed, but not sold: Job 35 4,800 Indirect 1,100 $12,500 3,400 1,400 $11,900 In process 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 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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