Asked by
Peyton Thompson
on Nov 17, 2024
Verified
When the goods are sold, their costs are transferred from Work in Process to Finished Goods.
Work in Process
Inventory that includes materials that have been partially processed but are not yet finished goods in the manufacturing process.
Finished Goods
Products that have completed the manufacturing process but have not yet been sold to customers.
- Become familiar with the essential parts and the rationale behind the job order costing system.
Verified Answer
KM
Learning Objectives
- Become familiar with the essential parts and the rationale behind the job order costing system.
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