Asked by
shrujana kasarapu
on Nov 17, 2024
Verified
For a manufacturing business, products that are in the process of being manufactured are referred to as
A) supplies inventory
B) work in process inventory
C) finished goods inventory
D) direct materials inventory
Work in Process Inventory
Goods partially completed by a company but not yet ready for sale, often including raw materials, labor, and overhead costs.
Direct Materials Inventory
An account used to track the cost of raw materials not yet used in production.
- Recognize and distinguish among different categories of expenses, including activity bases, product costs, period costs, direct materials, work in process inventory, conversion costs, and factory overhead.
Verified Answer
PS
Learning Objectives
- Recognize and distinguish among different categories of expenses, including activity bases, product costs, period costs, direct materials, work in process inventory, conversion costs, and factory overhead.