Cardsheet Company The following partially completed T accounts summarize the transactions of Cardsheet Company for last year:

-The applied overhead is
A)$31,000.
B)$30,000.
C)$18,000.
D)$62,300.

Question

Cardsheet Company The following partially completed T accounts summarize the transactions of Cardsheet Company for last year:

-The applied overhead is
A)$31,000. 
B)$30,000. 
C)$18,000. 
D)$62,300.

Quizplus · Accepted Answer

The total applied overhead can be calculated by adding the debit balance in the Manufacturing Overhead account ($20,000) and the credit balance in the Prepaid Insurance account ($10,000), which equals $30,000.

Cardsheet Company the Following Partially Completed T Accounts Summarize the Transactions