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A Company Charged the Following Amounts of Overhead to Jobs

question 35

Essay

A company charged the following amounts of overhead to jobs during the current year: $12,000 to jobs still in process, $42,000 to jobs completed but not sold, and $66,000 to jobs finished and sold. At year-end, the company's Factory Overhead account has a credit balance of $9,000, which is not a material amount. What entry (if any) should the company make at year-end related to this overhead balance?


Definitions:

Bullying

A form of aggressive behavior characterized by repeated acts of physical, verbal, or social harm intended to intimidate, harm, or ostracize another individual.

Instrumental

Pertaining to actions or tools designed to achieve a specific purpose or carry out a particular function.

Reactive

The tendency to respond to stimuli or situations in a manner dictated by the stimuli themselves rather than initiating proactive actions.

Temperamental Differences

Variations among individuals in their emotional and behavioral responses due to differing inborn temperaments.

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