1.What account is credited when overhead cost is applied to Work in Process? Would you expect the amount applied for a period to equal the actual overhead costs of the period? Why or why not?

2. How does the adjustment for overapplied overhead affect net income? Is it ethical for managers to intentionally overapply overhead to manipulate future net income?

3. How do you compute the total manufacturing costs added to production within a schedule of cost of goods manufactured?