Which types of inventories does a manufacturing business report on the balance sheet?

37. Which types of inventories does a manufacturing business report on the balance sheet?

a. finished goods inventory and work in process inventory only

b. direct materials inventory and work in process inventory only

c. direct materials inventory, work in process inventory, and finished goods inventory

d. direct materials inventory and finished goods inventory only

38. For a manufacturing business, products that are in the process of being manufactured are referred to as

a. supplies inventory

b. work in process inventory

c. finished goods inventory

d. direct materials inventory

Solutions

Expert Solution

Answer:

37 .

The answer is option (C) direct materials inventory ,work in process inventory and finished goods inventory

Explanation :

The inventories of manufacturing organization incorporate all raw material stock.

The work in process inventories is additionally part as certain inventories stay in process toward the finish of period .

Finished products inventories are consistently there in each business.

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38.

The answer is option (b) work in process inventory.

The process of being manufacturing goods referred to as a work in process inventory.

ekkarill92 answered 2 years ago

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