When Using a Process Costing System,the Formula for Reconciling the Costs

question 27

Multiple Choice

When using a process costing system,the formula for reconciling the costs of production is

• A)beginning WIP balance + Costs transferred out during the period + Ending WIP = Total costs accounted for.
• B)beginning WIP balance + Cost added during the period = Cost transferred out during the period + Ending WIP balance.
• C)cost added during the period - Beginning WIP balance = Cost transferred out during the period + Ending WIP balance.
• D)beginning WIP balance + Cost transferred out - Ending inventory = Total costs to accounted for.