Question
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 Work in Process Job 33 Job 34 Balance on 3/1 $ 4,900 4,600 $ 9,500 Source documents revealed the following during March Job 33 Job 34 Job 35 Indirect Materials Requisitions Forms $2,500 Labor Time Tickets $5,900 Status of Job at Month-End Completed and sold 2,700 4,700 Completed, but not sold 4,300 2,800 In process 1,400 1,000 $ 10,900 $14,400 The company applies overhead to products at a rate of 75 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
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