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vazorg [7]
3 years ago
7

LO 4.7In a job order cost system, overhead applied is debited to which account?

Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

work in process inventory

Explanation:

The journal entry to record overhead applied is shown below:

Work in progress inventory A/c Dr XXXXX

      To Factory overhead A/c XXXXX

(Being applied overhead is recorded)

And, the journal entry to record over applied is presented below:

Manufacturing overhead A/c Dr XXXXX

            To Cost of Goods sold A/c  XXXXX

(Being over-applied overhead is recorded)

Over applied is come when actual overhead based on predetermined rate is more than the actual manufacturing overhead

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Result of active fiscal policy : there may be stimulation of the economy in the short run, but there will be harmful effects to the economy in the long run.

Explanation:

Active fiscal policy implies that Congress and the President are actively attempting to shift the trajectory of the economy by adjustments in taxes and/or government expenditure.

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Create the following lists. There are ten names and five lists of test scores. The correspondence between the names and the test
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Answer:

Create the following lists. There are ten names and five lists of test scores. The correspondence between the names and the test scores are determined by positions. For example, the test scores for Cindy are 67, 92, 67, 43, 78. Drop the lowest of the five test scores for each student and average the rest and determine the letter grade for that student. Make sure your printout is the same as mine with the same column widths

lowest of the five scores is 43

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Explanation:

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3 years ago
Which of the following industries have been deregulated in recent years
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Equipment in general governmental service that had been acquired several years ago by a special revenue fund at a cost of $40,00
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Answer:

D. A credit to Other Financing Sources for $5,000.

Explanation:

As the equipment is used for governmental service and sold, the journal entry to record the disposal is as follows:

Debit    Cash                                                 $15,000

Debit    Accumulated Depreciation             $30,000

Credit                 Equipment                                      $40,000

Credit                 Gain on sale of equipment            $5,000

Calculation: Book value of equipment = Cost price - Accumulated depreciation = $40,000 - $30,000 = $10,000

Therefore, Gain on sale of equipment = Disposal value - Book value = $15,000 - $10,000 = $5,000.

Therefore, option A is correct. Option B is also correct. Option C is also correct. Therefore, option D is not correct and it is the answer as it will not include in the journal.

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