If the Manufacturing Overhead Account Has a Credit Balance, Then

question 28

Multiple Choice

If the manufacturing overhead account has a credit balance, then

• A) manufacturing overhead is overapplied.
• B) manufacturing overhead is underapplied.
• C) cost of goods sold is understated.
• D) manufacturing overhead is underapplied AND cost of goods sold is understated.

---

Definitions:

Chiropractor's Services

Medical treatments provided by a licensed practitioner focusing on the diagnosis and treatment of neuromuscular disorders, primarily through manual adjustment or manipulation of the spine.

Federal Income Taxes

Taxes levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Itemized Deduction

involves subtracting eligible expenses from one's taxable income, instead of taking the standard deduction. These expenses are listed out or itemized on the tax return.

Schedule A

An IRS form used for itemizing deductions such as medical and dental expenses, taxes paid, interest paid, gifts to charity, and casualty and theft losses.