Neon Lighting is comparing actual and applied overhead amounts at the end of the year...
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Neon Lighting is comparing actual and applied overhead amounts at the end of the year and finds that the factory overhead account has a credit balance. Which of the following is true for neon Lighting? a Applied costs are higher than actual costs. b The entire balance is charged back to work in process inventory. c The balance should be carried over from year to year. d Actual costs are higher than applied costs.
Neon Lighting is comparing actual and applied overhead amounts at the end of the year and finds that the factory overhead account has a credit balance. Which of the following is true for neon Lighting?
a Applied costs are higher than actual costs.
b The entire balance is charged back to work in process inventory.
c The balance should be carried over from year to year.
d Actual costs are higher than applied costs.
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