Page 162 - F2 - MA Integrated Workbook STUDENT 2018-19
P. 162
Chapter 7
Test your understanding 8
In an integrated accounting system, the accounting entries required when a
company absorbs production overheads would be:
Debit Credit
A Work in progress Overheads
B Overheads Work in progress
C Overheads Cost of sales
D Cost of sale Overheads
Test your understanding 9
At the end of a period, in an integrated accounting system, the accounting
entries for $18,000 overheads under-absorbed would be:
Debit Credit
A Work in progress Overheads
B Statement of profit or loss Work in progress
C Statement of profit or loss Overheads
D Overheads Statement of profit or loss
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