When goods are completed and transferred from Work In Process Inventory (WIP) to Finished Goods (FG) Inventory, the costs in the transfer accounting entry are
A) incurred costs.
B) standard costs.
C) assigned costs.
D) actual costs.

Question

Quizplus · Accepted Answer

When goods are completed and transferred from Work In Process (WIP) Inventory to Finished Goods (FG) Inventory, the costs in the transfer accounting entry are standard costs.

When Goods Are Completed and Transferred from Work in Process