Question

If a department that uses process costing starts the reporting period with 100,000 physical units that were 20% complete with respect to direct labor, the equivalent units of direct labor in beginning Work in Process are 20,000.True / False.

Answer 1

Answer:

The answer is true

Explanation:

A work-in-progress (WIP) is the cost of unfinished goods in the manufacturing process including labor, raw materials, and overhead.