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:

Pervasive

Having the tendency to spread widely throughout an area or group of people.

Latency Period

A phase in psychosexual development, occurring from about age 6 to puberty, characterized by a decrease in sexual interests and activities.

Psychosexual Stages

Psychosexual Stages is a Freudian theory describing how personality development occurs in five stages (oral, anal, phallic, latency, and genital) associated with erogenous zones.

Phallic Stage

In Freudian psychoanalytic theory, the third stage of psychosexual development (ages 3-6) where the libido's focus is on the genital area, and the child develops sexual identification with the same-sex parent.