Which of the following is not viewed as part of

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92. Which of the following is not viewed as part of assigning manufacturing costs in a job order cost system? a. Manufacturing overhead is applied b. Raw materials are used c. Manufacturing overhead is incurred d. Completed goods are recognized 2- 1 1
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Test Bank for Managerial Accounting, Second Edition 93. The entry to recognize cost of goods sold includes a credit to 94. Total manufacturing costs include 95. When monthly financial statements are prepared, underapplied overhead will appear as 96. If manufacturing overhead has been underapplied during the year, the adjusting entry at the end of the year will show a a. debit to Manufacturing Overhead. b. credit to Cost of Goods Sold. c. debit to Work in Process Inventory. d. debit to Cost of Goods Sold. 97. If manufacturing overhead has been overapplied during the year, the adjusting entry at the end of the year will show a 98. The existence of under- or overapplied overhead at the end of the month 99. Conceptually, any under- or overapplied overhead at the end of the year should be allocated among all of the following except 100. If at the end of the year, Manufacturing Overhead has been overapplied, it means that a. actual overhead costs were greater than the overhead assigned to jobs. b. actual overhead costs were less than the overhead assigned to jobs. c. overhead has not been applied to jobs still in process. d. cost of goods will have to be increased by the amount of the overapplied overhead. 101. If the Manufacturing Overhead account has a debit balance at the end of a period, it 2- 1 2
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Job Order Cost Accounting means that
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