when manufacturing overhead has a credit balance, overhead is overapplied. Overapplied overhead means that the overhead assigned to work in process is greater than the overhead incurred. Also, since the amount is immaterial, it should be closed in cost of goods sold.
The adjusting entry for the overapplied over-head is:
b. debit factory overhead $5,600; credit cost of goods sold $5,600.
After posting this entry the factory overhead account will have a zero balance.
Hope it helps!
Answer:
Such changes would require an understanding of:
a) intellectual property law
Explanation:
Intellectual property can be defined as non-physical property of the mind or the intellect. They are intangible assets of the intellect that can be protected by law. The law that guides the creation, usage and enforcement of intellectual property rights is know as intellectual property law. They majorly involve inventions of the mind such as; designs and artistic works. The laws were made to provide incentive to the inventors and creators of intellectual property to build creative inventions that benefits the society but also ensuring that they gain profits and acknowledgement for their work.
As enshrined in Article I, Section 8 of the U.S. Constitution, congress is given exclusive authority to grant inventors and creators rights to their inventions. The two major agencies that administer intellectual property laws are; the U.S. Patent and Trademark Office, and the U.S. Copyright Office.
In the context above where Mega Corporation wants to change it's logo and trademark, they need an understanding of intellectual property law since corporate logos and trademarks are subject to intellectual property law.
Answer:
B.
Explanation:
B is giving a bit of a impersonal approach, and comes across as just pushing company rules, especially by attaching a company policy. Her response should be more precise with options. Annie does not provide that in response B.
