If the Underapplied Factory Overhead Amount Is Immaterial, It Is

question 61

True/False

If the underapplied factory overhead amount is immaterial, it is transferred to Cost of Goods Sold at the end of the fiscal year.

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Definitions:

Situational Attributions

Explanations for behaviour based on an actor’s external situation or environment.

Self-serving Bias

The common human tendency to attribute successes to internal factors (like ability or effort) and failures to external factors (like luck or bias).

Dispositional

Refers to inherent personality traits and tendencies that influence behavior and attitudes.

Situational

Depending on or relating to a specific set of circumstances or context, often implying that different situations require different responses or actions.