St.Johns Corporation uses a job-order costing system and has provided the following partially completed summary T-accounts for the just completed period:
Manufacturing overhead for the period was:
A) $7,000 Underapplied
B) $73,000 Underapplied
C) $73,000 Overapplied
D) $7,000 Overapplied

Question

St.Johns Corporation uses a job-order costing system and has provided the following partially completed summary T-accounts for the just completed period:
  Manufacturing overhead for the period was:
A) $7,000 Underapplied 
B) $73,000 Underapplied 
C) $73,000 Overapplied 
D) $7,000 Overapplied

Quizplus · Accepted Answer

11ea7761_18e0_3029_81a5_ff2992ca6210_TB2580_00 Alternatively,
 11ea7761_18e0_573a_81a5_2d04fc3182ee_TB2580_00 A credit balance in Manufacturing Overhead means that manufacturing overhead is overapplied by the amount of the balance.

StJohns Corporation Uses a Job-Order Costing System and Has Provided