Lin 5550take Reading Warmup Chapter 3 Started Jan 29 at 1058

Lin 5550take Reading Warm-up Chapter 3 Started: Jan 29 at 10:58am Quiz Instructions D Question 1 1 pts Manufacturing overhead is period are greater than the amount of manufacturing overhead cost that was applied to Work in Process. if actual manufacturing overhead costs for a Question 2 1 pts

Solution

Answer 1:

Manufacturing overhead is Underapplied if actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was applied to Work in Process.

Answer 2:

To calculate overapplied and underapplied overhead, compare applied manufacturing overhead to Actual manufacturing overhead.

Answer 3:

When completed goods are sold, the transaction is recorded as a debit to Cost of Goods Sold and a credit Finished Goods.