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Amunrud Corporation uses a job-order costing system to assign manufacturing costs to jobs.At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold.Its balance sheet on January 1 appears below:
Summaries of the transactions completed during January appear below:
Required:
Completely fill in the spreadsheet below.Because the page is too narrow to accommodate all of the columns,the spreadsheet has been divided into two parts that should be side by side.
Confirmation Error
The tendency to seek, interpret, and remember information that confirms one's preconceptions or hypotheses, overlooking contradictory evidence.
Availability Bias
A cognitive bias that causes people to overestimate the likelihood of events based on their recall of immediate examples.
Representativeness Bias
A cognitive bias in decision-making where individuals judge probabilities or make judgments based on how much one thing resembles another, often leading to errors in assessment.
Conjunction Fallacy
A logical error where people wrongly assume that specific conditions are more probable than a single general one.
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