In the Apportionment Formula, Most States Assign More Than a One-Third

question 144

Short Answer

In the apportionment formula, most states assign more than a one-third weight to the
factor.

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Definitions:

Overapplied Manufacturing Overhead

A case where the estimated costs for manufacturing overhead outstrip the actual overhead expenditures.

Underapplied Manufacturing Overhead

Occurs when the actual manufacturing overhead costs are higher than the manufacturing overhead assigned to goods produced.

Work in Process Inventory

The account used in manufacturing to track the costs of products that are in the production process but not yet completed.

Overapplied Manufacturing Overhead

A situation where the actual manufacturing overhead costs are less than the overhead assigned to products.