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:

Absolute Frequency

The total count of occurrences or instances of a specific event or characteristic in a data set.

Chemical Element

A substance that cannot be broken down into simpler substances by chemical means and is identified by the number of protons in its atoms.

Variable

An element, feature, or factor that is likely to vary or change; often used in scientific experiments or mathematical equations.

Rainfall

The amount of rain that falls over a specific area in a given period of time, often measured in millimeters.