Refer to the accompanying diagram.Which of the following scenarios would explain this change in equilibrium?
Definitions:
Overapplied
A situation where the allocated or applied costs in cost accounting exceed the actual costs incurred.
Underapplied
A term used in accounting when the allocated costs are less than the actual costs incurred.
Manufacturing Overhead
All indirect costs associated with the production process, including but not limited to utilities, maintenance, and depreciation on equipment.
Actually Incurred
Costs or expenses that have been realized or expended, as opposed to estimated or projected costs.
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