For Each of the Following Sentences ,Select the Word or Group

question 55

Short Answer

For each of the following sentences ,select the word or group of words that best completes the statement.
$$\begin{array} { l l l } \text { Matching } & \text { Cash basis } & \text { Measurement } \\\text { Deferred revenue } & \text { Adjustments } & \text { Deferred expense } \\\text { Accrual basis } & \text { Recognition } & \text { Accrued asset }\end{array}$$
-A(n)____________________ creates an increase in income for the period.

---

Definitions:

Factory Overhead

Indirect costs associated with manufacturing, including utilities, maintenance, and salaries of supervisors, not directly involved in production.

Adjusting Journal Entry

A journal entry made at the end of an accounting period to record unrecorded income and expenses so that the financial statements are accurate.

Overapplied Overhead

A situation where the allocated manufacturing overhead cost is more than the actual overhead incurred.

Underapplied Overhead

An instance in which the budgeted manufacturing overhead expenses fall short of the real overhead costs experienced.