In a Job-Order System,the Actual Factory Overhead Costs Incurred Are

question 13

Multiple Choice

In a job-order system,the actual factory overhead costs incurred are $150,000.Applied factory overhead costs are $160,000.What entry is needed to dispose of the overhead variance? Use the immediate write-off method.

• A) Debit Factory Department Overhead Control, Credit Factory Department Overhead Applied
• B) Debit Factory Department Overhead Applied, Credit Cost of Goods Sold
• C) Debit Factory Department Overhead Applied, Credit Finished Goods Inventory
• D) Debit Factory Department Overhead Control, Credit Cost of Goods Sold

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Definitions:

Generalizability

The extent to which findings from a study can be applied to larger populations or different contexts.

Sampling Error

The difference between a sample statistic and its corresponding population parameter, arising purely by chance because a sample is only part of the whole.

Sample Approximates

Estimates derived from a sample that are used to infer characteristics of the overall population.

Research Hypotheses

Statements made by researchers that predict a relationship or difference between variables in a study.