Asked by Jennah Marie on Jun 01, 2024
Verified
The three major manufacturing inventories do NOT include which of the following?
A) Supplies
B) Work-in-process
C) Raw materials
D) Finished goods
Manufacturing Inventories
Items held by a company for processing into finished goods, including raw materials, work-in-progress, and finished goods.
Work-In-Process
Partially finished goods that are still in the process of production, representing an inventory category on the balance sheet.
Finished Goods
Products that have completed the manufacturing process but have not yet been sold or distributed to customers.
- Distinguish the diverse types of stock in production settings and their significance in the domain of cost accounting.
Verified Answer
DJ
Dylan JacobJun 05, 2024
Final Answer :
A
Explanation :
Supplies are not considered one of the three major types of manufacturing inventories. The three main categories are raw materials, work-in-process, and finished goods. Supplies are necessary for the manufacturing process but are not categorized as a major inventory type because they do not directly contribute to the product being manufactured.
Learning Objectives
- Distinguish the diverse types of stock in production settings and their significance in the domain of cost accounting.