The ending balance of which of the following accounts can be calculated by summing the totals of the open job-order cost sheets:
A)Work in Process.
B)Materials.
C)Finish Goods.
D)Cost of Goods Sold.

Question

Quizplus · Accepted Answer

The account that represents the cost of work that has not yet been completed is Work in Process. The ending balance of Work in Process can be obtained by summing the totals of the open job-order cost sheets. This balance represents the value of goods that are still being worked on and have not yet been completed. Therefore, Choice A is the best answer.

The Ending Balance of Which of the Following Accounts Can