1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sidana [21]
3 years ago
14

What entry would make to adjust the manufacturing overhead account for overallocated or underallocated​ overhead?

Business
1 answer:
LiRa [457]3 years ago
8 0

Answer:

Adjustments

1. Overallocated Manufacturing Overhead:

Debit Manufacturing Overhead

Credit Cost of goods sold

With the amount of overallocated manufacturing overhead.

2. Underallocated Manufacturing Overhead:

Debit Cost of goods sold

Credit Manufacturing Overhead

With the amount of underallocated manufacturing overhead.

Explanation:

When the manufacturing overhead is overallocated, the account has a credit balance.  To adjust the entry, the account is debited while the cost of goods sold is credited.  This reduces the cost of goods sold by the amount of the overallocation.  The opposite takes place with an underallocated overhead.  The purpose of the latter is to increase the cost of goods sold to reflect the overhead expense for the period.

You might be interested in
A SWOT analysis helps companies put a priority on market research. <br>O True <br>O False​
sergey [27]
A SWOT does put priority on market research.
True
6 0
3 years ago
Edward is considering buying a home using credit. What are three questions he should ask himself to ensure he is using credit re
Contact [7]
Three of the most important questions he needs to ask are the following: 1. Are you making a big purchase? This is important because the bigger the pruchase the better attention he needs to have into interest rates. 2. <span> How are you paying off your card balance?</span> the payment can be in one payment or in different ones. And 3. <span> Would you like free bonuses with your purchase? some credits offer that some others not. It is very important to have that in mind</span>
5 0
3 years ago
Sells Company accounts for its investment in OFO, Inc. under the available-for-sale method. How should Sells Company record a ca
ohaa [14]

Answer:

the journal entry should be:

Dr Cash X

    Cr Dividend revenue X

When a company holds securities as an investment and classifies them as available for sale (AFS), any dividends received will be recorded as revenue.

Dividend revenue is reported in the income statement.

7 0
3 years ago
The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,0
aleksandr82 [10.1K]
The correct answer is a
5 0
3 years ago
Keith has won the lottery and now has more money than he ever dreamed of having. this incident will likely affect keith's develo
Alexxandr [17]
<span>This is an example of "Non-normative life event".


Non-normative life events refers to those events that happen surprisingly, for example, catastrophic events, loss of a relative and war or winning a lottery which is unexpected. Indeed, even in cases that passing or sickness, in particular ages, are factually viewed as regularizing, they are really non-regulating. They are as yet startling and undesired occasions, related with serious impacts. Non-normative events might be included both negative and positive occasions, for example, passing of a darling individual or winning in a lottery. Be that as it may, in the two cases, they are unexpected and slightly related to chronological age.</span>
8 0
3 years ago
Other questions:
  • Fixed overhead costs include​ ________.
    8·1 answer
  • Crowding out refers to the situation in which Group of answer choices borrowing by the federal government raises interest rates
    5·2 answers
  • If you have a business and you are spending more money then your making how do you turn it around
    5·1 answer
  • how would you predict the survivorship curve of a developed country would compare to that of a developing country
    6·1 answer
  • Poland's Paints allocates overhead based on machine hours. Selected data for the most recent year follow.Estimated MOH $238,000A
    11·1 answer
  • Vegan delite stock is valued at $68.60 a share. the company pays a constant annual dividend of $2.40 per share. what is the tota
    11·1 answer
  • The _______ describes the personal requirements you expect from an employee and can include educational requirements and special
    5·2 answers
  • Who is responsible for determining how tasks will be done in a weak matrix project management structure?
    10·1 answer
  • Sauer Food Company has decided to buy a new computer system with an expected life of three years. The cost is $300,000. The comp
    12·1 answer
  • Pls help me lol
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!