If There Is a Credit Balance in the Factory Payroll

question 73

Multiple Choice

If there is a credit balance in the Factory Payroll Payable at the end of the accounting period, it represents

• A) the amount by which applied payroll was greater than actual payroll.
• B) the amount by which actual payroll was greater than applied payroll.
• C) labor costs which have not yet been distributed.
• D) an amount that should be charged to Cost of Goods Sold.

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Definitions:

Core Job Characteristics

Fundamental attributes of a job that affect employee motivation and job satisfaction, including skill variety, task identity, task significance, autonomy, and feedback.

Fixed Price

A pricing strategy where the cost of a product or service is not subject to change under any circumstances.

Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency and labor productivity.

20th Century

Refers to the period from 1901 to 2000, characterized by significant advancements in technology, science, and social changes globally.