Danoff Corporation Has Provided Data Concerning the Company's Manufacturing Overhead

question 118

Multiple Choice

Danoff Corporation has provided data concerning the company's Manufacturing Overhead account for the month of October. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $68,000 and the total of the credits to the account was $77,000. Which of the following statements is true?

• A) Actual manufacturing overhead incurred during the month was $77,000.
• B) Manufacturing overhead applied to Work in Process for the month was $68,000.
• C) Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $68,000.
• D) Manufacturing overhead for the month was overapplied by $9,000.

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Definitions:

Utilitarianism

An ethical theory that evaluates actions in terms of their outcomes, specifically the greatest good for the greatest number of people.

Greatest Good

The highest level of benefit or welfare for the largest number of individuals or the general population.

Informed Consent

A process by which a participant voluntarily confirms their willingness to participate in a study or procedure, after understanding all its relevant aspects.

Therapeutic Misconception

The misunderstanding among participants in clinical research that the primary purpose of a clinical trial is to benefit them individually, rather than to gather data for the advancement of medical knowledge.