Stone Creek Furniture Factory (SCFF), a custom furniture manufacturer, uses job order costing to track...
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Accounting
Stone Creek Furniture Factory (SCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, SCFF had two jobs in process with the following costs:
Work in Process
Balance on 3/1
Job 33
$
5,200
Job 34
4,900
$
10,100
Source documents revealed the following during March:
Materials Requisitions Forms
Labor Time Tickets
Status of Job at Month-End
Job 33
$
2,300
$
5,900
Completed and sold
Job 34
3,600
3,600
Completed, but not sold
Job 35
4,900
3,400
In process
Indirect
1,500
2,000
$
12,300
$
14,900
The company applies overhead to products at a rate of 65 percent of direct labor cost.
Requirement 2:
Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end. (Omit the "$" sign in your response.)
Work in process
$
Finished goods inventory
$
Cost of goods sold
$
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