The process that accumulates production costs by process and uses a work-in-process account for each process is called:

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Process costing is the process of accumulating production costs by process, using work-in-process accounts for each process. This is typically used when a company produces a large volume of identical products, such as in the manufacturing of chemicals or food items. Joint costing is used when two or more products are produced from a common set of resources, variable costing is a method of inventory costing that only includes variable manufacturing costs, and job-order costing is used when products are produced to customer specifications.

The Process That Accumulates Production Costs by Process and Uses