A retail store ordered a commercial advertising job on September 25. During the month of September, Merick Advertising used $1,100 of direct materials and $2,400 of direct labor. The work was not finished in September. As an additional $2,700 of direct materials and $5,900 of direct labor were required to complete the work in October. The company applied overhead at a rate of 125% of the direct labor cost incurred at the end of the month.
What is the balance in the Work in Process account as of September 30?:  

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To calculate the balance in the Work in Process WIP account as of September 30 we need to consider t... View the full answer