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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 Job 33 Job 34 Balance on 3/1 $ 5,500 4, 80e $ 10,300 Source documents revealed the following during March: Job 33 Job 34 Job 35 Indirect Materials Requisitions Forms $ 2,399 2,100 4,500 880 $ 9,780 Labor Time Tickets $ 4,980 8,280 2,999 1,999 $ 12,990 Status of Job at Month-End Completed and sold ompleted, but not sold In process The company applies overhead to products at a rate of 50 percent of direct labor cost. Required 1 Required 2 Calculate the balance in the Work in Process Invento end. Vork in Process inventory Finished Goods Inventory ost of Goods Sold
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