Question

ACC202 K Chapter 02 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: points Work in Process Job 33 Job 34 $ on 3/1 4,900 4.400 9,300 $ Source documents revealed the following during March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 $2,889 $ 5,500 Completed and sold Job 34 3,109 3,700 Completed, but not sold Job 35 3,780 In process Indirect 1,300 1.200 $11,200 $ 14,100 References The company applies overhead to products at a rate of 50 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

i just need help with this question on my accounting homework

Answer 1

1.

	Total Manufacturing Cost
Job 33	$                                      15,950
Job 34	$                                      13,050
Job 35	$                                        9,550

2.

Work in Process Inventory	$             9,550
Finished Goods Inventory	$          13,050
Cost of Goods Sold	$          15,950

Working:

	Job 33	Job 34	Job 35	Total
Balance on 3/1	4900	4400	0	9300
Direct materials	2800	3100	4000	9900
Direct labor	5500	3700	3700	12900
Manufacturing overhead	2750	1850	1850	6450
	(50% x $5500)	(50% x $3700)	(50% x $3700)
Total job cost $	15950	13050	9550	38550
	COGS	FG	WIP