GB 519 RANK Motivated Minds/gb519rank.com GB 519 RANK Motivated Minds/gb519rank.com | Page 26

Direct and indirect material costs. Direct and indirect labor costs. Direct labor and factory overhead costs. Indirect labor and factory overhead costs. Question 11. Question : The journal entry to record incurred direct labor would include a credit to: Student Answer: Work-in-Process Inventory. Accrued Payroll. Factory Overhead. Materials Inventory. Finished Goods Inventory. Question 12. Question : Process cost systems are used in all of the following industries except: