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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 Source documents revealed the following during March: Job 33 Job 34 Job 35 Indirect Balance on 3/1 $ 7,500 6,000 $ 13,500 Materials Requisitions Forms Required 1 $ 3,500 6.000 4,200 1,300 $ 15,000 Job 33 Job 34 Job 35 Labor Time Tickets $6,500 The company applies overhead to products at a rate of 150 percent of direct labor cost. 7,800 3,250 2,140 $ 19,690 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. Status of Job at Month-End Completed and sold Completed, but not sold In process Complete this question by entering your answers in the tabs below. Required 2 Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Cost Oak Creek Furniture Factory (OCFF), a custom fumiture manufocturer, uses job order costing to track the cost of each customer order On March 1, OCFF had two jobs in process wat the following costs: Source documents revealed the following during March The company applies overheod to products at a rate of 150 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 monthend Complete this question by entering your answers in the tabs below. Compute the cost of Jobs 33,34 , and 35 at the end of the month
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 Source documents revealed the following during March: Job 33 Job 34 Job 35 Indirect Balance on 3/1 $ 7,500 6,000 $ 13,500 Materials Requisitions Forms Required 1 $ 3,500 6.000 4,200 1,300 $ 15,000 Job 33 Job 34 Job 35 Labor Time Tickets $6,500 The company applies overhead to products at a rate of 150 percent of direct labor cost. 7,800 3,250 2,140 $ 19,690 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. Status of Job at Month-End Completed and sold Completed, but not sold In process Complete this question by entering your answers in the tabs below. Required 2 Compute the cost of Jobs 33, 34, and 35 at the end of the month. Total Manufacturing Cost
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