The balance in the Work in Process Inventory at any point in time equals
A)the costs for jobs finished during the period but not yet sold.
B)the manufacturing cost of jobs ordered but not yet started into production.
C)the sum of the manufacturing costs for all jobs in process but not yet completed.
D)the manufacturing costs of all jobs started during the period,completed or not.
E)the sum of the materials,labor and overhead costs paid during the period.

Question

Quizplus · Accepted Answer

Work in Process Inventory is the inventory of partially completed goods or products that are currently being worked on. It includes the manufacturing costs for all jobs that are in process but not yet completed. Therefore, option C is the correct answer. Options A, B, D, and E do not fully explain the contents of Work in Process Inventory.

The Balance in the Work in Process Inventory at Any