In Order to Adjust for the Over-/Under-Applied Manufacturing Overhead, Abe

question 99

Multiple Choice

In order to adjust for the over-/under-applied manufacturing overhead, Abe Company increased its balance in the Cost of Goods Sold account only.This implies that

• A)the company incurred more overhead costs than the overhead assigned to jobs, and the amount was not material.
• B)the company incurred less overhead costs than the overhead assigned to jobs, and the amount was material.
• C)the company incurred more overhead costs than the overhead assigned to the jobs, and the amount was material.
• D)the company incurred less overhead costs than the overhead assigned to jobs, and the amount was not material.

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Definitions:

Metacognition

Awareness of and control of one’s cognitive abilities.

Cognitive Abilities

Mental capabilities such as learning, thinking, reasoning, problem solving, decision making, remembering, and paying attention.

Screen Out Distractions

The process of eliminating or reducing background noise and irrelevant information to focus on important or primary tasks.

Primitive Functions

Basic physiological or psychological activities that are inherent or instinctual, serving as the foundation for more complex functions.