Question 1
What are three possible ways to dispose of underallocated or overallocated overhead costs at the end of a fiscal year? Briefly comment on the theoretical correctness or incorrectness of each method.
Question 2
A company has $25,000 of depreciation on plant assets and paid $12,000 for repairs also to plant assets. Which of the following journal entries would be required?
◦

◦

◦

◦