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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 $ 4,800 Job 34 4,000 $8,800 Source documents revealed the following during March: Materials Requisitions Labor Time Job 33 Forms $2,200 Tickets: Status of Job at Month-End $4,200 Completed and sold Job 341 3,800 3,500 Completed, but not sold Job 351 Indirect 4,300 3,400 In process 900 2,000 $11,200 $13,100 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
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