The two commonly used approaches to eliminate the balance of under- or over-applied manufacturing overhead costs are

Question

Quizplus · Accepted Answer

The two commonly used approaches are the "Direct Write-Off Method," which involves writing off the balance directly to the cost of goods sold, and the "Prorated Method," which involves allocating the balance among work in process, finished goods, and cost of goods sold.

The Two Commonly Used Approaches to Eliminate the Balance of Under-