Biology Forums - Study Force

Which of the following statements is true?

1. A credit balance in the Manufacturing Overhead account at the end of the year means that manufacturing overhead was overapplied.

2. If the actual manufacturing overhead cost for a period exceeds the manufacturing overhead cost applied, then manufacturing overhead would be considered to be overapplied.

3. The entire difference between the actual manufacturing overhead cost for a period and the applied manufacturing overhead cost is typically closed to the Work In Process account.

▸

Only statement I is true.

▸

Only statement II is true.

▸

Only statement III is true.

▸

None of the statements are true.

Content hidden