When is Overhead is Described as Underapplied Coursework

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Business Course 2016
Please answer the following and do not remove the numbered sequence. Thanks
2.When is overhead is described as underapplied? Overapplied? What disposition is made of these amounts at the end of the period?
Provide two reasons why overhead might be underapplied in a given year.
Discuss the purpose of the job cost sheet in a job-order costing system.
3. If the units produced and unit sales are equal, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?
If the units produced exceed unit sales, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?
Discuss what is meant by the term operating leverage.
Discuss what is meant by the terms margin and turnover in ROI calculations.
Discuss what is meant by the terms residual income? How the residual income is calculated.
Define the following terms: incremental cost, opportunity cost, and sunk cost.
Discuss how activity-based costing differ from traditional costing methods.
Do you believe that direct labor is a poor base for allocating overhead in many companies? Please explain.
Discuss some of the major benefits to be gained from budgeting.
Discuss what is meant by the term discounting.
Why is it important to adjust all cash flows to a common date?
What are outsourcing decisions? What are the potential pitfalls or dangers from deciding to outsource?
Discuss why aren’t transactions involving accounts payable considered to be financing activities?
What are cash equivalents, and why are they included with cash on a statement of cash flows?
Discuss the benefits and negative results of outsourcing the internal audit function.
How does the regulatory and legal environment of a country shape the corporate governance structure?
In your opinion, why are there no regulations that require internal audit assurance reports?

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