3. Under which of the following situations is Finished Goods Inventory debited and Work-in- Process Inventory account credited? * (1 Point) Purchase of goods on account Transfer goods out of the factory Transfer of goods to the finished goods storeroom Transfer of material to Work 4. The cost of direct labor used in production is recorded as a * (1 Point) debit to Manufacturing Overhead account. debit to wages payable. debit to Work-in-Process Inventory account