When Using a Normal Costing System,only Over- or Under-Applied Overhead

question 44

True/False

When using a normal costing system,only over- or under-applied overhead cost needs to be adjusted to the actual overhead cost.

---

Definitions:

Deposited

The act of placing money or another form of value into an account.

Interest

The cost of borrowing money or the payment received for deposit funds, calculated as a percentage of the principal.

Investment

The allocation of money into financial assets, real estate, or other ventures with the expectation of obtaining additional income or profit.

Interest Earned

The amount of money gained on an investment or savings account over time due to applied interest rates.