Accountancy, asked by palkarlax16, 8 months ago

Work in Progress at year end is equal to
Only closing stock of materials
Only work certified
Only Uncertified work
Sum of all the above​

Answers

Answered by pihu4021
0

Answer:

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Explanation:

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Answered by Anonymous
0

Work in Progress at year end is equal to sum of all the above​

  • Work in progress is the complete inventory and the work related to it. This applies to the goods that are still in the development process and are partially completed.
  • For goods that are at distinct stages of the manufacturing process, WIP properly applies to the total work, raw materials, labour, and also the overhead costs incurred.  
  • Towards the end of the accounting period, a firm correctly calculates for the work in progress. It ideally allows the firm to assess the worth of extensive inventory in the manufacturing process.
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