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APPLIED Overhead is computed using the predetermined overhead rate and is the amount of costs applied (or estimated) to be allocated (needed) for specific jobs. ACTUAL Overhead is found after the manufacturing process is complete which gives the actual amount of used/consumed resources (or total costs) that it needed to complete the job. The two amounts can then be compared afterward which is known as Under- or Overapplied Manufacturing Overhead. When Manufacturing Overhead has a DEBIT balance, overhead is said to be UNDERAPPLIED, meaning that the overhead applied to work in process or to the certain job is LESS than the overhead incurred. On the contrary, when manufacturing overhead has a CREDIT balance, overhead is OVERAPPLIED, meaning that the overhead assigned to work in process or to the certain job is GREATER than the overhead incurred.
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Financial accounting vs cost accounting?
Cost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents information like statements for public and private use. Management... accounting methods and techniques used by managers to operate their firms. Examples include raw materials, labor and manufacturing overhead management. On the other hand.
How would you report a college scholarship for tuition expenses on your tax return?
you don't have to report scholarships used for tuition and course-related expenses == ans == The prior response is wrong. Scholarships and grants may not be taxable, but the are absolutely reportable. Not reporting them (correctly) may make them taxable, with penalties and interest in fact. The way to determine what you need to do, especially as the terms get applied to things that may not qualify, or may actually qualify as certain types, or a rant Vs a scholarship Vs a stipend, Vs etc., (needing different reporting) is: http://www.irs.gov/publications/p970/ch01.html A "plain English" publication of the IRS that explains it, and gives examples fully.
Accrual basis accounting vs Cash basis Accounting?
Under accrual basis of accounting, transactions are recorded when they actually occurred while in cash basis accounting transactions are recorded when actual cash is paid. Accrual accounting follows the matching concept according to which all revenues in one period should be match with expenses.
What is the difference between and super bill vs charge slip?
Nothing..
Cash flow Vs funds flow?
Cash flows and fund flows
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In a CNG filling Station business what kind of variances you can calculate?
1. Budgeted No of stations vs Actual No of stations 2. Budgeted No of vechiles per day vs Actual No. of vehicles per day 3. Budgeted fill per vehicle vs actual fill per vehicle 4. Budget no of operational days vs Actual no of operational days 5. Budget gas consumption v actual gas consumption 6. Budgeted electricity consumption vs actual electricity consumption 7. Budgeted fixed expenditure vs actual fixed expenditure
1 Explain the different types of research?
The basic types of research are as follows:• Descriptive vs. Analytical• Applied vs. Fundamental• Quantitative vs. Qualitative• Conceptual vs. Empirical
What is the ideal vs actual conflict in of mice and men?
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What are the ratings and certificates for Ninjas vs- Zombies - 2008?
Ninjas vs- Zombies - 2008 is rated/received certificates of: USA:R (self applied)
JTF2 vs SRR vs SASF vs DEVGRU who's more elite?
Completely a question of opinion, no actual information can be given. It's all up to your opinion.
Why do you shrink when you age?
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What time is the ACTUAL kickoff for the 49ers vs Falcons today?
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When is Marvel vs capcom 2 coming out?
Marvel vs Capcom 2 has already been released. The game was slated for a 2009 release. The actual release date was July 2000.
How do you give rock bottom in smack down vs raw PC game?
rock bottom is applied only by pressing S+A .
