Which of the Following Methods for Zeroing Out the Over-Applied

question 31

Multiple Choice

Which of the following methods for zeroing out the over-applied or under-applied overhead is the easiest method, but the least accurate?

• A)Correct rates at year end.
• B)Write-off to the miscellaneous expense account.
• C)Prorate the under-applied or over-applied amount among the inventory accounts.
• D)Write-off to cost of goods sold.
• E)None of the above.

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Definitions:

Elaboration

A memory strategy that involves making connections between two or more things to be remembered.

Metamemory

An individual’s knowledge about their own memory abilities and strategies to aid memory, including the understanding of how memory works.

Memory Performance

Refers to the efficiency and accuracy of cognitive processes involved in storing, retaining, and recalling information.

Metamemory

An individual's knowledge and awareness of their own memory capabilities and strategies.