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Answer the following questions using the information below:
Because the Abernathy Company used a budgeted indirect-cost rate for its manufacturing operations, the amount allocated ($200,000) was different from the actual amount incurred ($225,000) .
-What is the journal entry used to write off the difference between allocated and actual overhead directly to cost of goods sold?
Financial Compensation
Payment provided to someone in exchange for an injury, loss, or the performance of a service or job.
Freedom Petitions
Arguments for liberty presented to New England’s courts and legislatures in the early 1770s by enslaved African-Americans.
Enslaved African-Americans
Individuals of African descent who were forcibly brought to the United States and subjected to forced labor and servitude until the abolition of slavery.
Declaration Of Independence
A document adopted on July 4, 1776, by the Second Continental Congress, declaring the thirteen American colonies independent from British rule.
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