Flying high manufacturing produces frisbees using a threeminus−step sequential process that includes molding, coloring and finishing. when the frisbees and associated costs are transferred from the molding process to the coloring process, which account is credited?

When the frisbees and associated costs are transferred from the molding process to the coloring process WIP Inventory-Molding is credited. WIP inventory stands for Work in Process inventory, that are the materials that have been partially converted through the production process. In this case from molding process to the coloring process.

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MrsTriplet MrsTriplet · Answer 2 · 2019-04-15T20:22:20+02:00

MrsTriplet MrsTriplet

15-04-2019

Answer: WIP Inventory

Explanation: WIP stands for work in progress inventory. WIP, is part of the inventory asset accounting process to balance numbers on the balance sheet. WIP is all raw materials, labor, and overhead costs that come from the production of goods or services.

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Flying high manufacturing produces frisbees using a threeminus−step sequential process that includes​ molding, coloring and finishing. when the frisbees and associated costs are transferred from the molding process to the coloring​ process, which account is​ credited?

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Flying high manufacturing produces frisbees using a threeminus−step sequential process that includes molding, coloring and finishing. when the frisbees and associated costs are transferred from the molding process to the coloring process, which account is credited?