All of the Following Are Items That Would Most Likely

question 15

Multiple Choice

All of the following are items that would most likely be paid from a petty cash fund except

• A)postage due.
• B)taxi fares.
• C)administrative wages.
• D)freight-out.

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Definitions:

Job Costing System

A cost accounting system that tracks the expenses of a specific job against its revenue to determine profitability.

Overapplied Overhead

This occurs when the allocated manufacturing overhead cost is more than the actual overhead costs incurred, leading to a variance.

Underapplied Overhead

The situation where the allocated overhead costs are less than the actual overhead incurred.

Proration

The method of allocating proportions of expenses or incomes across different departments, products, or periods.