In Relation to the Cost of Goods Manufactured Report, Which

Multiple Choice

In relation to the cost of goods manufactured report, which of the following statements is incorrect?

A) Cost of goods manufactured is transferred to the cost of sales account.
B) It is prepared to calculate the cost of goods completed in the period.
C) The ending work in process is subtracted to obtain the cost of completed goods manufactured for the period.
D) The total of direct materials, direct labour and factory overhead represent the manufacturing costs for the period.