Final answer:
The collection of all job cost sheets defines the work-in-process file, which is used in manufacturing to track the direct costs of materials, labor, and overhead for jobs that are ongoing but not yet completed.
Step-by-step explanation:
The collection of all job cost sheets actually defines the work-in-process (WIP) file. Job costing systems are used in manufacturing to track the costs associated with a specific job or batch of products. Job cost sheets record the materials, labor, and overhead costs incurred for a particular job.
These sheets are crucial for measuring the direct costs each job consumes. They also allow businesses to assess profitability, estimate future jobs accurately, and manage resources. The WIP file contains all the job cost sheets for jobs that are started but not yet completed.
In contrast, a materials file would include records of all the raw materials available or used, whereas a finished goods file would encompass completed products ready for sale. Finally, the cost of goods sold file includes the costs of items that have been sold, hence this file reflects finished goods that have been purchased by customers.