What is role of material requisition forms in costing system

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1. What is overapplied overhead? When Cost of Goods Sold is adjusted for overapplied overhead, will the cost increase or decrease? Why?

2. Suppose that you and a friend decide to set up a lawn mowing service next summer. Describe the source documents that you would need to account for your activities.

3. Why might a company decide to use departmental overhead rates instead of a plantwide overhead rate?

4. What is the role of materials requisition forms in a job-order costing system? Time tickets? Predetermined overhead rates?

Reference no: EM13940258

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