What will allocation of a material underapplied amount, Accounting Basics

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What will allocation of a material underapplied amount

When using a predetermined overhead rate to allocate overhead, unforeseen things can materially affect the amount allocated, resulting in a material balance left in the overhead control account. The text says that this amount needs to be allocated proportionately among WIP, FG, and CGS.

1. Why should the WIP and FG inventories receive a portion of this material underapplied/overapplied overhead?

2. What will allocation of a material underapplied/overapplied amount to CGS (only) do to the company's financial statements?

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Accounting Basics: What will allocation of a material underapplied amount

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Accounting Basics: What will allocation of a material underapplied amount

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Recent Questions Asked Accounting Basics

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Accounting Basics: What will allocation of a material underapplied amount

Reference No:- TGS0689128

Recent Questions Asked Accounting Basics

Q : Staff shortage and inefficiency

Q : Describe the ending goods in process inventory

Q : How much gain must troy recognize

Q : Why should the variable costing method be more useful

Q : What will allocation of a material underapplied amount

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