The ________ account is supported by a file of job-cost records for partially completed jobs.
A) Direct Materials Inventory
B) Finished Goods Inventory
C) Cost of Goods Sold
D) Work-In-Process Inventory

Question

Quizplus · Accepted Answer

The Work-In-Process Inventory account is used to record the cost of partially completed jobs. It is supported by a file of job-cost records that tracks the cost of direct materials, direct labor, and manufacturing overhead for each job that is in progress. Once the job is completed, the costs are transferred to the Finished Goods Inventory account.

The ________ Account Is Supported by a File of Job-Cost