It means there is some WIP
It means you have incurred more actual manufacturing overhead costs than you have applied to your products (i.e., manufacturing overhead is underapplied).
factory overhead should be allocated on basis of their apportiomen
what isfactory overhead applied
cheatFAIL
how do you calculate the amount of the over-or under applied factory overhead?
It means there is some WIP
It means you have incurred more actual manufacturing overhead costs than you have applied to your products (i.e., manufacturing overhead is underapplied).
factory overhead should be allocated on basis of their apportiomen
what isfactory overhead applied
what is factory overhead applied?
Salary of factory manager is Manufacturing overhead. and Manufacturing overhead is Product costs. So, It's not period cost.
cheatFAIL
Factory overheads are incurred only and only due to production of the goods. That is why the factory overhead cost is applied to production.
YES
yes
No, property taxes would not be classified as factory overhead...property taxes get paid under an expense account