The cost of goods manufactured for a period is the amount transferred from work in process inventory to finished goods inventory during the period.

Question

Quizplus · Accepted Answer

The cost of goods manufactured represents the total cost of products that were completed in a particular period, and it includes the direct materials, direct labor, and overhead costs incurred to manufacture those products. This cost figure is then transferred from work in process inventory to finished goods inventory at the end of the period. Therefore, the statement is true.

The Cost of Goods Manufactured for a Period Is the Amount