Direct materials, direct labor and manufacturing overhead initially flow into which of the following categories? Finished...
Direct materials, direct labor and manufacturing overhead initially flow into which of the following categories? Finished goods inventory, Indirect costs, Cost of goods sold, Work in process inventory
Homework Answers
The answer is work in process inventory.
Direct material, direct labor and manufacturing overheads are direct costs and hence cannot be a part of indirect costs.
The material and labour first form a part of work in process inventory, then processed further into finished goods inventory and when sold becomes cost of goods sold.
Hence, the correct answer is work in process inventory.
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Direct materials, direct labor and manufacturing overhead
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