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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 Balance $ 5,500 3,700 $ 9,200 on 3/1 Job 33 Job 34 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 3,6004,200 Completed and sold Job 34 Job 35 4,900 2,300 2,600 $ 12,200 14,000 3,000 4,500 1,100 Completed, but not sold In process The company applies overhead to products at a rate of 65 percent of direct labor cost
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