wwwblackboardodueduwebappsassessmenttakelaunchjspcourse asse

www.blackboard.odu.edu/webapps/assessment/take/launch.jsp?course assess Chapter 7)- Assignments-201730 SUMMER ACCT311.33738 Shop uestion Completion Status: Work-In-Process Inventory.. OC. Work-In-Process Inventory .XXX Wages Payabl. Work-In-Process Inventory OE Finished Goods Inventory.0 QUESTION8 Underapplied overhead occurs when the balance in the Manufacturing Overhead Control account is: A less than the balance in the Applied Manufacturing Overhead account. B less than the balance in the Finished Goods Inventory account. C. greater than the balance in the Applied Manufacturing Overhead account. D. equal to the balance in the Applied Manufacturing Overhead account. QUESTION 9 The journal entry to write-off an insignificant (not materia) underapplied overhead balance at the end of an accounting period is A. Applied Manufacturing Overhead..X Click sare and submir to scrue and submit. C?ick SaieAlansuvrs to sure niansuers save A

Solution

Answer no 8

Correct answer (C ) Greater than balance in the Applied Manufacturing overhead account.

Explanation

Underapplied overheads are those overheads which occur when Assigned cost of overhead is less than actual overheads. Underapplied overheads are recorded as overheads paid in advance.

For example Actual overheads were $ 200000 but applied overheads are only $ 170000.