If a company uses a factory overhead ledger,at the end of the month,an accountant should:
A)close the accounts in the factory overhead ledger to Work in Process.
B)total the accounts in the factory overhead ledger and compare the total to the balance in the Factory Overhead control account.
C)prepare a schedule of fixed costs.
D)All of the above are true.

Question

Quizplus · Accepted Answer

At the end of the month, the accountant should total the accounts in the factory overhead ledger and compare the total to the balance in the Factory Overhead control account to ensure that the ledger and control account are in agreement. Closing the accounts in the factory overhead ledger to Work in Process and preparing a schedule of fixed costs may be necessary steps in the accounting process, but they are not specific to verifying the accuracy of the factory overhead accounts.

If a Company Uses a Factory Overhead Ledger,at the End