How Is the Ending Balance in Work in Process Inventory

question 88

Multiple Choice

How is the ending balance in Work in Process Inventory calculated for a firm that uses the weighted average method of process costing?

• A)Multiply the costs per equivalent unit by the number of equivalent units associated with ending Work in Process Inventory.
• B)Subtract the cost of goods finished and the cost of goods sold from total manufacturing costs.
• C)Add the costs of the jobs still in process at the end of the period.
• D)Divide total manufacturing costs by total equivalent units.

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Definitions:

Federal Trade Commission

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Exclusive Dealing

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