Flying High Manufacturing produces frisbees using a three-step process that includes molding, coloring and finishing. Which account is debited when the frisbees are totally completed?
A)WIP Inventory-Finishing
B)Finished Goods Inventory
C)Manufacturing Overhead
D)WIP Inventory-Coloring

Question

Quizplus · Accepted Answer

When the frisbees are totally completed, they are transferred from the Work-In-Process (WIP) Inventory account to the Finished Goods Inventory account. This reflects the cost of the completed products and is the final step before they are sold.

Flying High Manufacturing Produces Frisbees Using a Three-Step Process That