(a Distinguish between Job Order Cost Accounting and Process Cost Accounting, noting in which circumstances each would be used. 4 Marks (b) Briefly explain the following, using examples: 10 Marks Direct labour Indirect labour Direct materials Indirect materials Manufacturing overhead 11 Marks The DIT Merchandising Company incurred the following costs during 2017. Prepare an Income Statement for 2017. 550,000 135,000 65,000 Sales Revenue Purchases of Merchandise Salaries, Sales Staff Rent, Sales Facility Utilities Supplies Advertising 35,000 10,000 5,000 15,000 Beginning and ending merchandise inventories were: Merchandise Inventory, Jan 1 2017 15,000 Merchandise Inventory, Dec 31 2017 10,000