Which of the following is an error when accounting for transferred-in costs?

Question

Quizplus · Accepted Answer

Transferred-in costs are costs incurred by a product in previous departments that are carried forward as the product's cost basis when it moves to a subsequent department. The error mentioned in option D, considering costs assigned at the beginning of the period when calculating costs to be transferred on a weighted average basis, is incorrect because transferred-in costs should be based on the actual costs incurred up to the point of transfer, not on costs assigned at the beginning of the period. Options A, B, and C describe standard practices in accounting for transferred-in costs.

Which of the Following Is an Error When Accounting for Transferred-In