The balance in the Work-in-Process Inventory account equals:
A) the balance in the Finished Goods Inventory account.
B) the balance in the Cost of Goods Sold account.
C) the balances on the job cost sheets of uncompleted jobs.
D) the balance in the Manufacturing Overhead account.

Question

Quizplus · Accepted Answer

The Work-in-Process Inventory account represents costs associated with production that is not yet complete, which corresponds to the balances on the job cost sheets of uncompleted jobs.

The Balance in the Work-In-Process Inventory Account Equals