The balance in the Work in Process account equals the

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Quizplus · Accepted Answer

The balance in the Work in Process account represents the accumulated cost of all jobs that have not yet been completed. Therefore, the correct answer is the balances on the job cost sheets of uncompleted jobs. The balance in the Finished Goods Inventory account represents the cost of completed jobs waiting to be sold, the balance in the Cost of Goods Sold account represents the cost of goods already sold, and the balance in the Overhead account represents the accumulated overhead costs.

The Balance in the Work in Process Account Equals the