Schedule of Work in Process

The given schedule presents the calculations which pertain to work in the process. Pay attention to the details, noting that
(1) direct materials flow in from the schedule of raw materials,
(2) the conversion costs (direct labour and overhead) are added into the mix,
(3) the cost of the completed units to be transferred into the finished goods is called the cost of produce manufactured. The amounts are supposed, but would be derived from accounting records and by a physical counting process.