For the following accounts, indicate what causes the account to increase and decrease. The first account is completed as an example. (Abbreviation used: OH=overhead.) (Click on the icon to view the accounts.) Account Is increased by: Is decreased by: Raw Materials Inventory Materials purchased Materials used Work-in-Process Inventory Direct materials used Shipping sold jobs Direct labor incurred Manufacturing overhead allocated Finished Goods InventoryCompletion of jobs Shipping sold jobs Cost of Goods Sold
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