The total costs accounted for in a production cost report equal the:

A) cost of units completed and transferred out plus the cost of ending work in process.

B) cost of units completed and transferred out only.

C) cost of units started into production.

D) cost of beginning work in process plus the cost of units completed and transferred out.

Question

Ari Valentine

Business

17 February, 09:40

The total costs accounted for in a production cost report equal the:

A) cost of units completed and transferred out plus the cost of ending work in process.

B) cost of units completed and transferred out only.

C) cost of units started into production.

D) cost of beginning work in process plus the cost of units completed and transferred out.

+5

Answers (1)

Know the Answer?

Philip Sanford · Answer 1

A) cost of units completed and transferred out plus the cost of ending work in process.

Explanation:

The total costs accounted for in a production cost report consists of Cost in units of Work - In - Process Inventory and Cost Incurred During the Current Period. These Costs equal cost of units completed and transferred out plus the cost of ending work in process.