Overapplied Overhead Should Be ________ to the Cost of Goods

question 15

Short Answer

Overapplied overhead should be ________ to the Cost of Goods Sold account when closed.

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Definitions:

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a certain period of time; it measures the efficiency of inventory management.

Financial Information

Data relating to the financial status or operations of a business, including balance sheets, income statements, and cash flow statements.

Times Interest Earned

A financial ratio that measures a company's ability to service its debt by comparing operating income to interest expense.

Financial Information

Data pertaining to the financial status or performance of an individual, business, or other entity, including reports on assets, liabilities, income, and expenses.