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Question: oak creek furniture factory ocff a custom furniture manufacturer uses...

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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 Balance on 3/1
Job 33 $ 4,400
Job 34 3,100
$ 7,500

Source documents revealed the following during March:         

Materials Requisitions Forms Labor Time Tickets Status of Job at Month-End
Job 33 $ 2,100 $ 4,300 Completed and sold
Job 34 2,700 5,000 Completed, but not sold
Job 35 3,300 2,800 In process
Indirect 1,200 2,600
$ 9,300 $ 14,700


The company applies overhead to products at a rate of 75 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 month-end.

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