Scooby Company Has Applied $567,988 of Overhead into Production on Jobs

question 83

Multiple Choice

Scooby Company has applied $567,988 of overhead into production on Jobs in the Work in Process account. Actual overhead at the end of the year is $575,000. What is the adjustment for over or underapplied overhead?

• A) $7012 Overapplied, increase Cost of Goods Sold
• B) $7012 Underapplied, increase Cost of Goods Sold
• C) $7012 Overapplied, decrease Cost of Goods Sold
• D) $7012 Underapplied, decrease Cost of Goods Sold

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Definitions:

IQ Test

A standardized test designed to measure human intelligence and cognitive abilities.

Projective Tests

Psychological assessment tools where the responses to ambiguous stimuli reveal hidden emotions and internal conflicts.

Personality Inventory

A questionnaire or other standardized instrument designed to reveal aspects of an individual's character or psychological makeup.

B Data

B Data refers to behavioral data, which includes observations of an individual's behavior in natural or controlled environments as a method of psychological assessment.