In a job cost system,the Work-in-Process Inventory controlling account may be reconciled to the total of the:
A)Employee time cards.
B)Materials requisitions.
C)Work-in-Process Inventory records for each department or process.
D)Job cost sheets.

Question

Quizplus · Accepted Answer

The Work-in-Process Inventory controlling account represents the total cost of all jobs in progress within the company. Job cost sheets are used to accumulate the costs of each individual job, including direct materials, direct labor, and overhead expenses. Therefore, reconciling the Work-in-Process Inventory controlling account to the total of the job cost sheets is the most appropriate method to ensure that all job costs have been accounted for and accurately reflected in the WIP inventory balance.

In a Job Cost System,the Work-In-Process Inventory Controlling Account May