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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 Balance S 4,400 4,300 S 8,700 on 3/1 Job 33 Job 34 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Job 33 $ 2,900 2,800 3,600 TicketsStatus of Job at Month-End 5,300 Completed and sold Job 34 Job 35 Indirect 3,100 2,300 800 400 Completed, but not sold In process 2,400 $ 10,100 13,100 The company applies overhead to products at a rate of 60 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33,34, and 35 at the end of the month Total Manufacturing Cost Job 33 Job 34 Job 35 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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