Figure 5-8.John's Water Slides makes custom water slides for hotels. On September 1, there were three jobs in process, Jobs 812, 813, and 814. Two more jobs were started during September, Jobs 815 and 816. By September 30, Jobs 812, 814, and 816 were finished. The following data has been collected:
Overhead is applied at the rate of 120% of direct labor cost. Jobs are sold at cost plus 60%. Selling and administrative expenses for September totaled $2,950. By September 30, Jobs 812 were 816 are sold, but the customer who ordered Job 814 decided he did not want the slide so it is still in the warehouse.
-Refer to Figure 5-8. Calculate the ending balance in Work-in-Process as of September 30.
Definitions:
Follow-up Activities
Actions taken after an initial meeting or sale, aiming to maintain customer engagement and satisfaction, often leading to further sales opportunities.
Need-satisfaction
A sales approach focusing on identifying and meeting the specific needs of customers, ensuring they are satisfied with the products or services offered.
Industrial Products
Goods produced and used within industries, including machinery, materials, and equipment, intended for manufacturing or service provision.
Problem-solution
A methodology or approach that identifies an issue and provides a strategic answer or resolution to address it effectively.
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