In a production cost report using process costing, transferred-in costs are most similar to:
A) material added at the beginning of the process.
B) conversion costs added during the process.
C) costs transferred-out to the next process.
D) costs included in beginning inventory.

Question

Quizplus · Accepted Answer

Transferred-in costs are similar to material added at the beginning of the process because they are costs that are carried over from a previous process and are treated as if they are part of the initial costs for the current process.

In a Production Cost Report Using Process Costing, Transferred-In Costs