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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: Work in Process Job 33 Job 34 Balance on 3/1 $ 5,200 3,100 $ 8,300 Job 33 Source documents revealed the following during March: Materials Requisitions Labor Tine Forms $ 3,300 Tickets $ 4,300 Status of Job at Month-End Completed and sold Job 34 3,300 4,900 Completed, but not sold Job 35 Indirect 3,100 2,100 In process 800 $10,500 2,500 $13,800 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.)
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