Assume That Variable Overhead Is Over-Applied by $100 and Fixed

question 79

Multiple Choice

Assume that variable overhead is over-applied by $100 and fixed overhead is Under-applied by $50.The effect on cost of goods sold is

• A)$150 increase.
• B)$150 decrease.
• C)$50 increase.
• D)$50 decrease.

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Definitions:

Globalization

The method of engaging and combining efforts among individuals, corporations, and state entities globally, typically propelled by global commerce and investment, and facilitated by advancements in information technology.

Hegemony

The dominance of one group over others, often exercised through cultural, economic, or political means, leading to widespread acceptance of the dominant values.

Bourgeois Class

The social class that came to own the means of production during modern industrialization, typically referring to the middle and upper classes in capitalist societies.

Capitalist Society

A capitalist society is one in which the means of production and distribution are privately owned and operated for profit, often characterized by competitive markets, capital accumulation, and wage labor.