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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,
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 4,300 $ 9,100 Source documents revealed the following during March: Materials Job 33 Requisitions Forms $2,500 $ 5,800 Labor Time Tickets Status of Job at Month End Completed and sold Job 34 2,000 4,800 Completed, but not sold Job 35 3,200 3,200 In process Indirect 1,500 2,200 $ 9,200 $16,000 The company applies overhead to products at a rate of 65 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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