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Due November 6 at 12:59 AM ****BUT I NEED IT BY NOV 5 AT 3:00 PM CST***********
Discussion Question Two:
Overhead application to costs is a critical issue for the costing of your products. We are studying several ways to handle this situation.
Describe the overhead and overhead application process.
What would cause overhead to be overapplied or underapplied?
Discuss the results of your decision making and the financial statements for each of those two situations.
Describe how the over or under application of overhead should be corrected in the accounting records.