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 ............             $ 7,500

Job 34 ...........                 6,000

                                   $13,500

Source documents revealed the following during March:

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.

2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end.

Transcribed Image Text:

Materials Requisitions Forms Labor Time Tickets Status of Job at Month-End Job 33 Job 34 Job 35 Indirect 3,500 6,000 4,200 1,300 $15,000 6,500 7,800 3,250 2,140 $19,690 Completed and sold Completed, but not sold In process