Which of the following is true of the Work-in-Process Control account?
A) It tracks all direct material purchases.
B) Its balance is the sum of amounts from all in-process individual job-cost records.
C) It is an expense account.
D) It tracks overhead costs in-process from beginning through completion.

Question

Quizplus · Accepted Answer

The Work-in-Process Control account is used to track the costs incurred for all jobs that are in process but have not yet been completed. The balance of this account is the sum of the costs from all of the individual job-cost records for each job that is in process. The account does not track direct material purchases or overhead costs, and it is not an expense account.

Which of the Following Is True of the Work-In-Process Control