Direct Labor Would Be Part of the Cost of the Ending

question 116

Multiple Choice

Direct labor would be part of the cost of the ending inventory for which of these accounts?

• A) Work-in-Process.
• B) Finished Goods.
• C) Direct Materials and Work-in-Process.
• D) Work-in-Process and Finished Goods.

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Definitions:

IOU Instrument

A document acknowledging a debt or an obligation to pay a specified sum of money to another party.

Payable On Demand

A financial agreement or instrument that requires payment when requested by the holder.

Unconditional Promise

A commitment made without any stipulations or requirements for its fulfillment.

Relative Permanence

The quality of a negotiable instrument that ensures its longevity.