Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs:

A) started in process during the period.
B) in process during the period.
C) completed and sold during the period.
D) completed during the period.

Question

Rebecca Estrada · Accepted Answer

Final Answer : D, Explanation :  The dollar amount transferred from Work in Process to Finished Goods represents the cost of the completed jobs only. The costs of jobs that are in process or started during the period are not yet complete and cannot be transferred to Finished Goods. Only completed jobs that are ready for sale can be transferred to Finished Goods. Therefore, the correct choice is D, completed during the period.

Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs:

A) started in process during the period.
B) in process during the period.
C) completed and sold during the period.
D) completed during the period.

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Learning Objectives

Learning Objectives

Related questions

Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs:A) started in process during the period.B) in process during the period.C) completed and sold during the period.D) completed during the period.

Definitions

Learning Objectives

Learning Objectives

Related questions

Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs:

A) started in process during the period.
B) in process during the period.
C) completed and sold during the period.
D) completed during the period.