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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.

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On May 27, Hydro Clothing Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 54
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Answer:

Journalize the transactions of May 27, August 3, and November 14.

Explanation:

                                       deb               cre

may-27 Treasury Stock            600000  

(75000*8)  

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4 0
3 years ago
On July 31, year 2, Tern Co. amended its single employee defined benefit pension plan by granting increased benefits for service
san4es73 [151]

Answer:

Options Include:

1. Years before Year 1 only.

2. Year 1 only.

3. Year 1 and years before and following Year 1.

<em>4. Year 1 and following years only. is Correct</em>

Explanation:

Prior cost of service is acknowledged whenever a contract is changed to provide added benefits for services previously received by workers.

The amortization of the prior service expense must be acknowledged as an element of the retirement cost during the future service periods of all those workers whom are active on the date of the plan modification and are entitled to receive rewards under the Scheme.

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3 years ago
A lot of designer clothing companies will send free clothes to celebrities with hopes that the celebrities will wear their cloth
Kazeer [188]

Answer:

Celebrity endorsement.

Explanation:

The complete question is...

A lot of designer clothing companies will send free clothes to celebrities with hopes that the celebrities will wear their clothing in public and attract more customers to the brand. what mode of end? What mode of endorsement are these clothing companies trying to achieve?

Celebrity endorsement uses a celebrity's fame or social status to promote a product, brand or service. It is mostly associated with the fashion and beauty brands, and the goal is that the positive image of the celebrity be reflected onto the product or the brand. Celebrity endorsement has been used by some brands to promote their businesses into a multi-billion dollar company, and is also very lucrative for the celebrity, whose contract deals can run into hundreds of millions of dollars.

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3 years ago
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