8. When goods are sold, their cost are transferred from Work in Process to Finished Goods Inventory. 9. When indirect materials are requisition, the work in process account is debited. 10. When indirect labor is applied to a job, the factory overhead control account is debited.

8. When goods are sold, their cost are transferred from Work in Process to Finished Goods Inventory. 9. When indirect materials are requisition, the work in process account is debited. 10. When indirect labor is applied to a job, the factory overhead control account is debited.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

8-10. True or false

8. When goods are sold, their cost are transferred from Work in Process to Finished Goods
Inventory.
9. When indirect materials are requisition, the work in process account is debited.
10. When indirect labor is applied to a job, the factory overhead control account is debited.

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