1. Actual overhead exceeds applied overhead and the amount is immaterial. Which of the following will be...
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Question:
1. Actual overhead exceeds applied overhead and the amount is immaterial. Which of the following will be true? Upon closing, Overhead is Cost of Goods Sold will
a. Overapplied decrease
b. Underapplied increase
c. Underapplied decrease
d. Overapplied increase
2. If actual overhead is less than applied overhead, which of the following will be true? Upon closing, Overhead is Cost of Goods Sold is
a. Underapplied debited
b. Overapplied debited
c. Underapplied credited
d. Overapplied credited
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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