Question
Cost of goods manufactured is the Blank______.
Multiple choice question.
sum of all jobs transferred from Work in process to Finished goods
value of all jobs transferred from Finished goods to Cost of goods sold
average value of the Work in process account
sum of all jobs in Finished goods at the end of a period
Multiple choice question.
sum of all jobs transferred from Work in process to Finished goods
value of all jobs transferred from Finished goods to Cost of goods sold
average value of the Work in process account
sum of all jobs in Finished goods at the end of a period
Answers
GPT-4o mini
The correct answer is:
**sum of all jobs transferred from Work in process to Finished goods**
Cost of goods manufactured refers to the total cost of producing goods during a specific period and is represented by the value of jobs completed and moved from the Work in Process account to the Finished Goods account.
**sum of all jobs transferred from Work in process to Finished goods**
Cost of goods manufactured refers to the total cost of producing goods during a specific period and is represented by the value of jobs completed and moved from the Work in Process account to the Finished Goods account.