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Definition

Total cost of work in process

Definition (1):

The total cost of work in process refers to the sum of the cost of the beginning work in process and total manufacturing costs for the present period. In other words, we can get the mentioned term by adding beginning work in process inventory to the total manufacturing cost.

Beginning Work in Process Inventory + Total Manufacturing Cost = Total cost of work in process

Definition (2):

The total cost of work in process helps us to determine or calculate the cost of goods manufactured. If we deduct ending work in process inventory from the total cost of work in process, we will get the cost of goods manufactured.

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