Accumulated Depreciation Is a Liability Account and Has a Credit

question 103

True/False

Accumulated Depreciation is a liability account and has a credit normal account balance.

---

Definitions:

Departmental Overhead Rates

Specific rates used to allocate overhead costs to products or cost objects based on the expenses of different departments.

Allocation Base

A measure used to distribute costs among different departments, products, or activities, typically related to the amount of resources consumed.

Unit Product Costs

The complete expense incurred in the creation of a single unit of a product, encompassing materials, workforce, and indirect costs.

Indirect Labor

Labor costs associated with employees who do not directly work on a product, but whose services are necessary for the manufacturing process.