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Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer orden On March 1,
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer orden On March 1, OCFF had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $ 4,300 4,600 $ 8,900 Source documents revealed the following during March: Materials Requisitions Forms $3,800 Labor Time Tickets $ 4,100 Status of Job at Month-End Completed and sold Completed, but not sold Job 33 Job 34 Job 35 Indirect 3,300 4,700 5,000 1,200 2,200 2,700 In process $ 13,300 $ 13,700 The company applies overhead to products at a rate of 70 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 Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Cost Job 33 $ Job 34 Job 35 10,360 Required Required 1 Required 2 Calculate the balance in the Work in Process Inventory, Finished Good end. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold < Required 1
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