work in process verse manufactuing goodsSolutionThe question

work in process verse manufactuing goods?

Solution

The question is not clear as to the requirement. My interpretation is that the distinction between work in process and manufactured goods is required.

Work in process goods are incomplete goods for which the manufacturing processes are incomplete whereas finished goods are complete goods which can be transferred to inventory. The accounting for work in process goods is done in the work in process subledger whereas for finished goods is done in the finished goods inventory account.