The cost credited to the work in process account and debited to the finished good account is known as:

Question

Quizplus · Accepted Answer

The cost credited to the work in process account and debited to the finished goods account is known as the cost of goods manufactured (COGM). This represents the total cost of the goods that were completed during the period and are available for sale. Therefore, choice C, cost of goods manufactured, is the best answer.

The Cost Credited to the Work in Process Account and Debited