What account should WIP variances go to?

AI generated answer (using internal Slack threads):

WIP (Work in Progress) variances should typically go to a Balance Sheet account. This is because WIP represents costs that have been incurred but not yet billed or capitalized. These costs are not yet expenses, so they should not be recorded in an Expense account. Instead, they are recorded as assets (under WIP) on the Balance Sheet until they are either billed to the customer or written off. Remember, the WIP account is used to accumulate costs for ongoing projects. When the project is completed, the costs are transferred from the WIP account to the Cost of Goods Sold (COGS) or another appropriate expense account. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******