e Edit View History Bookmarks People Window Help com AcC 2013 MMcGraw-Hill Conne

Question

e Edit View History Bookmarks People Window Help com AcC 2013 MMcGraw-Hill Connect | ErrorxChapter 2 HW C O Not Secure ? Bookmarks UbA pors Oak Creek Fumiture Factory (OCFFI, 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 in Process on Job 33 Job 34 S 5.800 $ 9,400 Source documents revealed the following during March Materials Labor Time Requisitios Tickets Status of Job at Month-End Job 33 $ 2600 Job 34 5.700 Completed and sold 3,100 Complebed, but not sold 2.400 In process 2,300 10,600 13.900 The company applies overhead to products at a rate of 75 percent of direct labor cost Prepare journal entries to record the materials requistions, labor costs, and applied overhead Of no entry is required for a transaction event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 8

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No Account Debit Credit a Work in process inventory 10600 Raw materials inventory 10600 [Entry to record material requisition] b Work in process inventory 13900 Wages payable 13900 [Entry to record labor costs] c Work in process 10425 Manufacturing overhead 10425 [Entry to apply 75% of labor as overhead]

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