If, at the end of the year, Manufacturing Overhead has been over applied, it means that:
If, at the end of the year, Manufacturing Overhead has been over applied, it means that:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![ll 69%
4G+
11:55
docs.google.com/forms/d/e/11
If, at the end of the year, Manufacturing
Overhead has been over applied, it means
that: *
actual overhead costs were greater than
the overhead assigned to jobs.
actual overhead costs were less than the
overhead assigned to jobs.
overhead has not been applied to jobs still
in process.
None of the above
When the company purchases raw
materials for $20,000 on account, the entry
should include:
A debit to Raw Material Inventory $20,000
and a credit to Cash $20,000
A debit to Direct Material $20,000 and a
credit to Accounts Payable $20,000
A debit to Raw Materials Inventory $20,000
and a credit to Accounts Payable $20,000
O None of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5863b858-0ac1-4816-a3e6-eab2aba2a9f3%2Faffdcb67-8d8f-4d3d-98b6-dc4bbd59692a%2Fmh0xbo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ll 69%
4G+
11:55
docs.google.com/forms/d/e/11
If, at the end of the year, Manufacturing
Overhead has been over applied, it means
that: *
actual overhead costs were greater than
the overhead assigned to jobs.
actual overhead costs were less than the
overhead assigned to jobs.
overhead has not been applied to jobs still
in process.
None of the above
When the company purchases raw
materials for $20,000 on account, the entry
should include:
A debit to Raw Material Inventory $20,000
and a credit to Cash $20,000
A debit to Direct Material $20,000 and a
credit to Accounts Payable $20,000
A debit to Raw Materials Inventory $20,000
and a credit to Accounts Payable $20,000
O None of the above
![4G+
11:55
ill 70%
Manufacturing Overhead will be
accompanied by a debit to:
Cost of Goods Manufactured.
Finished Goods Inventory.
Work in Process Inventory.
None of the above
X Company applies overhead on the basis
of 150% of direct labor cost. Job No.105 is
charged with $100,000 of direct materials
costs and $120,000 of manufacturing
overhead. The total manufacturing costs for
Job No.105 is *
$220,000.
$300,000.
$270,000.
None of the above
If, at the end of the year, Manufacturing](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5863b858-0ac1-4816-a3e6-eab2aba2a9f3%2Faffdcb67-8d8f-4d3d-98b6-dc4bbd59692a%2Fp2zgx7h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4G+
11:55
ill 70%
Manufacturing Overhead will be
accompanied by a debit to:
Cost of Goods Manufactured.
Finished Goods Inventory.
Work in Process Inventory.
None of the above
X Company applies overhead on the basis
of 150% of direct labor cost. Job No.105 is
charged with $100,000 of direct materials
costs and $120,000 of manufacturing
overhead. The total manufacturing costs for
Job No.105 is *
$220,000.
$300,000.
$270,000.
None of the above
If, at the end of the year, Manufacturing
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