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oksano4ka [1.4K]
3 years ago
12

LO 4.6Why is the manufacturing overhead account debited as expenses are recognized and then credited when overhead is applied?

Business
1 answer:
Klio2033 [76]3 years ago
7 0

Answer:

Explanation:

Manufacturing overhead records all the expenses like salaries payable which come under indirect labor. Manufacturing overhead includes all those indirect costs which are related to the factory-like - factory rent, factory repairs, depreciation on factory equipment, property taxes

For recognized expense, the journal entry would be

Factory overhead A.c Dr

        To Expenses A/c  

(Being expense recognized)

Since the cost is actually incurred so this above entry should be made

And, the journal entry for applied overhead is shown below

Work in progress inventory A/c Dr XXXXX

      To Factory overhead A/c XXXXX

(Being overhead applied is recorded)

Since applied overhead is based on predetermined overhead rate so we credit the factory overhead and debit the work in progress inventory

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This is a repeat question on Brainly but here you go.

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Answer:

<em>An inferior good</em>

<em></em>

Explanation:

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Answer:

Correct answer is Option c.

<u>Smith Bus should be excused from performance under the test of commercial impracticability </u>

Explanation:

In this case, Smith cannot fulfil the contract obligation due to an unforeseen event. Hence, Commercial impracticability shall apply.

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