Each Section of the Production Report Has Two Parts

question 52

Multiple Choice

Each section of the production report has two parts.They reconcile

• A) the total to be accounted for and the total accounted for.
• B) the beginning inventory plus units started and the units started and completed and the ending inventory.
• C) the costs in beginning work in process and the costs added during the period.
• D) the beginning inventory and the ending inventory.

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Definitions:

Assigns

Individuals or entities to whom rights or properties are legally transferred.

Bank Draft

A payment instrument issued by a bank on behalf of its customer, directing the payment of a certain amount to a named individual or entity.

Certified Check

A check guaranteed by a bank, confirming that the drawer has enough funds to cover the amount.

Drawer

In financial terms, the party that writes or issues a check or draft instructing a payment to be made.