Exhibit 14-2
Exhibit 14-2 -Refer to Exhibit 14-2

question 158

Multiple Choice

Exhibit 14-2
Exhibit 14-2
$$\begin{array}{l}\text { COUNTYBANK}\\\begin{array} {lll } &\text { assets}&&\text {Liabilities and Net Worth }\\\hline \text {cash }&&\text {+\$ 1,000 Checkable deposits }&&+\$1,000\\\end{array}\end{array}$$
-Refer to Exhibit 14-2.What kind of transaction just took place at Countybank?

---

Definitions:

Overapplied Overhead

This occurs when the overhead costs allocated to products or jobs exceed the actual overhead costs incurred.

Manufacturing Overhead

includes all production costs other than direct materials and direct labor, such as indirect materials, indirect labor, and factory-related expenses.

Cost of Goods Sold

The total cost directly associated with producing goods that have been sold during a specific period.

Direct Material Purchased

The total quantity and cost of raw materials acquired for use in the production process.