Which of the following are control accounts?
A)Factory Labor and Work in Process
B)Cost of Goods Sold and Finished Goods Inventory.
C)Raw Materials Inventory Manufacturing Overhead and Work in Process.
D)Raw Materials Inventory Factory Labor and Work in Process.

Question

Quizplus · Accepted Answer

Raw Materials Inventory, Manufacturing Overhead, and Work in Process are all control accounts because they summarize the balances of multiple subsidiary ledgers.

Which of the Following Are Control Accounts