1. List the three general ledger accounts to which over/under applied manufactur

Question

1. List the three general ledger accounts to which over/under applied manufacturing overhead can be closed. A process costing system can be used when only one production department exists. True or false. In a master budget, the production budget drives all other budgets. True or false. In a properly prepared cash budget, total cash receipts equal total cash disbursements. True or false. If manufacturing overhead is over applied, this means that the applied manufacturing overhead account 2. 3. 4. 5. has a debit balance. True or False.

Explanation / Answer

Solution:-

1. List the three general ledger accounts to which over/under applied manufacturing overhead can be closed:-

2. A process costing system can be used when only one production department exists:-

False

3. In a master budger, the production budget drives all other budgets:-

False

4. In a properly prepared cash budget, total cash receipts equal total cash disbursements:-

False

5. if manufacturing overhead is over applied, this means that the applied manufacturing overhead acount has a debit balance:-

False

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