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helencpa
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Joined: 24 Nov 2010
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Posts: 41

Posted: 29 Nov 2011 at 08:17 \| IP Logged

my exam is on the 30th Nov and it looks like i am confused some issues.
Do we debit over applied overhead and credit under applied OH? On wiley i read that OH is debited when it is overapplied, but i am not sure but on Becker i thought i saw to credit overapplied,,,,,,,,,,anyway let me know how it goes please....

vyom
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Joined: 29 Jan 2011
Location: India
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Posted: 29 Nov 2011 at 09:31 \| IP Logged

To understand this look at the T format account of Manufacturing
Overheads (OH)

        Manufacturing Overhead Account
ЕЕЕЕЕЕЕЕЕЕЕЕЕЕЕЕ..................Е...
(Acual overheads):     I Overhead applied
Indirect Labour          I
Indirect Material        I
Depreciation              I
Taxes (property)        I
Other indirect Costs    I
ЕЕЕЕЕЕЕЕЕЕЕЕЕЕЕЕ..................Е...
Underapplied OH       I Overapplied OH

Therefore, Debit balance when OH are underapplied and Credit balance
when OH are overapplied.

__________________
Thank you,
Vyom :)

helencpa
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Joined: 24 Nov 2010
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Posted: 29 Nov 2011 at 09:35 \| IP Logged

thx for the explanation Voym.

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