Question

Beginning work in process is equal to a.manufacturing costs incurred during the current period minus ending work in process b.cost of goods manufactured plus ending work in process minus manufacturing costs incurred during the current period c.cost of goods manufactured minus ending work in process plus manufacturing costs incurred during the current period d.ending work in process plus manufacturing costs incurred during the current period

Answer 1

The inputs in the production process for making pizza include labor, capital, and raw materials.

Step-by-step explanation:

The inputs (or factors of production) in the production process for making pizza include:

• Labor: The pizzaiolo who makes the dough, sauce, and prepares the pizza
• Capital: The oven, tools like the peel, and the box for packaging
• Raw materials: Flour, water, yeast, tomatoes, spices, cheese, and other toppings

These inputs are used to transform into the final output, which is the pizza that the customer pays for. Each input plays a crucial role in the production process.

Answer 2

b.cost of goods manufactured plus ending work in process minus manufacturing costs incurred during the current period

Step-by-step explanation:

As we know,

Cost of goods manufactured = Beginning work in process inventory balance + manufacturing cost - ending work in the process inventory balance

The Beginning work in process inventory balance + manufacturing cost is called total work in progress

If we reformulate this formula,

So, the beginning work in process inventory balance = Cost of goods manufactured + ending work in process inventory balance - manufacturing cost

The manufacturing cost includes direct material, direct labor and manufacturing overhead