-What Is One Common Misconception That People Currently Have About

question 33

Multiple Choice

-What is one common misconception that people currently have about the planter class in Southern society?

• A) Most planters lived in magnificent mansions instead of the simpler homes they actually constructed.
• B) Most plantations lacked large numbers of slaves and actually relied on free black labor.
• C) Southern plantations were more likely to be composed of a single male owner and his slaves rather than being the family-based farms that actually existed.
• D) Most of the planters from the highest class owned between one and ten slaves instead of the much higher numbers they actually were thought to have possessed.

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Definitions:

Overapplied

Refers to a situation where the amount of overhead cost allocated to products or services is more than the actual overhead cost incurred.

Manufacturing Overhead Applied

The amount of manufacturing overhead costs allocated to each unit of product based on a predetermined overhead rate.

Overapplied

This term relates to a situation where the allocated costs in accounting exceed the actual indirect costs.

Underapplied

A situation where the allocated overhead cost is less than the actual overhead cost incurred.