Cornerstones of Managerial Accounting Study Set 1
Quiz 5: Job-Order Costing
If Actual Overhead Is Less Than Applied Overhead,the Variance Is
If actual overhead is less than applied overhead,the variance is called underapplied overhead.
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If actual overhead is greater than applied overhead,the variance is called underapplied overhead.
Actual overhead is reconciled with applied overhead at the end of the period.
Departmental overheads can be added together to get plantwide overhead.
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