Factory overhead applied is recorded with a Multiple Choice credit to Cost of Goods Sold. debit to Work in Process Inventory debit to Factory Overhead. O credit to Work in Process Inventory The purchase of materials on account should be recorded as follows: Multiple Choice DR Accounts Payable CR Raw Materials Inventory DR Work in Process (WIP) Inventory CR Accounts Payable DR Raw Materials Inventory CR Accounts Payable DR Raw Materials Inventory CR Purchases on Account D D Morales