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:

Budgeted Sales

The projected amount of sales revenue a company expects to earn over a specific period, often used for planning purposes.

Actual Sales

The real revenue generated from goods or services sold, measured within a specific period.

Implied Value

a value that is not directly stated but can be derived from given information through analysis or calculation.

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A business opportunity that involves becoming a part of the Swiss Chalet chain of restaurants, known for their rotisserie chicken.