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what is WIP?
- 4 Answers
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Answer / rakesh
work in progress means from the stage of the work means
like from the stage of production of raw materials to
finished goods is called as the work in progress.
| Is This Answer Correct ? | 27 Yes | 2 No |
Answer / suresh kumar
work in progress.
that means production of any product includes the three
processes
1. raw material
2. work in progress
3.finished product
WIP means the product yet to be produced and we have
completed some portion of the production process.
| Is This Answer Correct ? | 24 Yes | 3 No |
Answer / aakeef
Material that has entered the production process but is not
yet a finished product.
The production of a product has a 3 phase/Process
1.raw material
2.work in progress
3.finished product
Work in progress (WIP) therefore refers to all materials
and partly finished products that are at various stages of
the production process. WIP excludes inventory of raw
materials at the start of the production cycle and finished
products inventory at the end of the production cycle.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / bijay kumar arakh
work in progress is a type of inventory which is convert from raw materials but not converted to finished goods.
| Is This Answer Correct ? | 0 Yes | 0 No |
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