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E2-2 (Algo) Preparing Journal Entries [LO 2-S1] 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 $4,400 4,400 $8,800 Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $ 2,800 $ 6,000 Completed and sold Job 34 2,300 3,000 Completed, but not sold Job 35 3,900 3,700 In process Indirect 1,500 1,700 $ 10,500 $ 14,400 The company applies overhead to products at a rate of 70 percent of direct labor cost. Required: Prepare journal entries to record the materials requisitions, labor costs, and applied overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of raw materials to production. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal View transaction list Journal entry worksheet Record Oak Creek Furniture Factory's payroll costs. Assume the direct labor is owed but not paid. Note: Enter debits before credits. Transaction General Journal Debit Credit b Record entry Clear entry View general journal View transaction list Journal entry worksheet