Final answer:
Debits in the work-in-process T-account during an accounting period represent the accumulation of production costs for partially completed goods. These costs include direct materials, labor, and overhead, and are transferred into the WIP account as goods are manufactured.
Step-by-step explanation:
In the context of a work-in-process (WIP) T-account in accounting, debits represent the costs that are added to products that are partially completed during a certain accounting period. This could include direct materials, direct labor, and manufacturing overhead. The WIP account is an asset account on the balance sheet, and the increases to this account (such as the addition of costs as the company processes goods) are recorded as debits. It is important to note that the WIP T-account is only one part of the inventory accounting process which also includes the Finished Goods and Raw Materials accounts.
As production costs incur, they are transferred from T-accounts like Raw Materials into WIP. These costs are accumulated until the product is completed. Once finished, the costs are then transferred from WIP to Finished Goods. Therefore, during the period, the debits to the WIP T-account signify the accumulation of production costs, which are necessary for the calculation of the cost of goods manufactured.