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please shows the work Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order.
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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 had two jobs in process with the following costs: Work in Process Job 33 Job 34 Balance on 3/1 $ 5,700 3,500 $ 9,200 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 2,400 $ 5,300 Completed and sold Job 34 3,600 4,300 Completed, but not sold Job 35 3,500 3,400 In process Indirect 500 2,900 $10,000 $ 15,900 The company applies overhead to products at a rate of 65 percent of direct labor cost. Required 1 Required 2 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month- end. $ 21,700 Work in Process Inventory Finished Goods Inventory Cost of Goods SoldStep by Step Solution
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