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Needham Company uses a job order cost system.During the month of September,the company worked on three jobs.The job order cost sheets for the three jobs contained the following information at the end of September: The company applies overhead at 120% of direct labor cost. During September Job B was completed,and it was sold in October.At the end of September the total cost in work in process was:
Direct Method
In cost accounting, a technique that allocates service department costs directly to producing departments without considering any services rendered between service departments.
Administrative Costs
All executive, organizational, and clerical costs associated with the general management of an organization rather than with manufacturing or selling.
Facilities Costs
Facilities costs are the expenses associated with the physical locations where business operations occur, including maintenance, utilities, and rent.
Direct Method
A cash flow statement preparation method that lists specific sources of operating cash inflows and uses of cash outflows, as opposed to the indirect method.
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