Work-in-process inventory refers to the partially completed materials within a production line. According to the team at Accounting Tools, this term considers the cost of raw materials, direct labor ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Eric's career includes extensive work in both public and ...

Knowing how many units you have in your beginning inventory is crucial to developing a production budget. Your production budget is an estimate of how many units you must manufacture to meet your ...