Question

The balance of the Work in Process account is equal to

The total costs of the jobs completed

The total costs of the jobs completed and sold

The total manufacturing costs incurred during the period

The total costs of the incomplete jobs​

Answer 1

Answer:

*EQUAL TO BALANCE IN FINISHED GOODS INVENTORY ACCOUNT

*TOTAL JOB COSTS -DIRECT MATERIALS +DIRECT LABOUR +APPLIED OVERHEAD.

*

Answer 2

Introduction:

Work in process describes tasks that are barely halfway completed. These things are also referred to as goods-in-process.

Explanation:

Work in progress is defined by some as products that go from raw components to finished product in a short amount of time. Items that have been manufactured are an example of a work in progress. The Work in Process account balance corresponds to the The total costs of the jobs completed.