The following partially completed T accounts summarize the transactions of Carlton Company for last year: 
At the end of the year, the company closes out the balance in the Overhead account to Cost of Goods Sold.
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The applied overhead is
Definitions:
Equilibrium Price
The market price at which the quantity of a good supplied equals the quantity demanded, leading to a stable market situation.
Government Intervention
Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and more.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in no shortage or surplus.
Equilibrium Quantity
The quantity of goods or services sold and bought at the equilibrium price, where market supply equals market demand.
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