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3 years ago

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Which terms will make the following statement true? When manufacturing overhead is overapplied, the Manufacturing Overhead accou

nt has a __________ balance and applied manufacturing overhead is greater than __________ manufacturing overhead.
a) debit, actual
b) credit, actual
c) debit, estimated
d) credit, estimated

1 answer:

Free_Kalibri [48]3 years ago

7 0

Answer:

b) credit, actual

Explanation:

The journal entry to record the over applied overhead is

Cost of Goods sold A/c Dr XXXXXX

To Manufacturing overhead A/c XXXXXX

(Being the over-applied overhead is recorded)

The over-applied overhead is arise when the applied manufacturing overhead is more than the actual manufacturing overhead

In mathematically

= Applied manufacturing overhead - actual manufacturing overhead

= Over-applied

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Answer:

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Explanation:

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The demand and supply functions for smartphones in Norway, derived from the given values, are:

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The import demand (ID) equation is:

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Next, a transaction cost of $5 per unit is imposed from Sweden to Norway. This changes the ES function as follows.

New ES = 80(P - 5) - 1200

New ES = 80P - 1600

The new equilibrium is where New ES = MD.

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This simplifies to P = 25

Q = 80(25) - 1600 = 400

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3 years ago