The "costs to be accounted for" portion of the cost reconciliation report includes the cost of beginning work in process inventory and the cost of units transferred out.

Question

Quizplus · Accepted Answer

The "costs to be accounted for" portion of the cost reconciliation report includes the cost of beginning work in process inventory and the costs added during the period, not the cost of units transferred out. The cost of units transferred out is part of the "costs accounted for" section, which also includes the ending work in process inventory.

The "Costs to Be Accounted For" Portion of the Cost