Answered: If the work in process inventory…

If the work in process inventory balance decreased by $3,200 during the period and the total manufacturing costs added to production are $200,000, then what is the cost of goods manufactured?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If the work in process inventory balance decreased by $3,200 during the period and the total manufacturing costs added to production are $200,000, then what is the cost of goods manufactured?

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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