Tan Company Over-Applied Manufacturing Overhead During 2012

question 111

Multiple Choice

Tan Company over-applied manufacturing overhead during 2012.Which one of the following is part of the year end entry to adjust the over-applied amount assuming the amount is material?

• A)A debit to Work in Process Inventory
• B)A debit to Cost of Goods Sold
• C)A debit to Manufacturing Overhead
• D)A credit to Unearned Revenue

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Definitions:

Mode

The value that appears most frequently in a data set, representing the most common or popular outcome among the observed values.

Sample Variance

A metric indicating the spread or variation in a set of sample data, determined by dividing the sum of the squared differences from the mean by the total number of data points minus one.

Sample Variance

A measurement of the spread between numbers in a data sample, calculated by taking the mean of the squared deviations from the sample mean.

Squared Deviations

The squared differences between each observation and the mean, used in the calculation of variance.