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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 $ 7,500 6.B $ 13,50 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 3,500 $ 6,500 Completed and sold Job 34 6,608 7,800 Completed, but not sold Job 35 4,200 3,250 In process Indirect 1,388 $ 15,Bee $ 19,020 The company applies overhead 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 Total Manufacturing Cost Job 33 Job 34 Job 35 S S 27.250 31.500 12.325 S 2. Calculate the balance in the Work in Process Inventory. Finished Goods Inventory, and Cost of Goods Sold accounts at month-end Work in Process inventory Finished Goods inventory Cost of Goods Sold
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