If actual manufacturing overhead costs are less than the applied manufacturing overhead, then manufacturing overhead is: underapplied. overapplied. a loss on the income statement under "other Expenses and Losses." considered a miscellaneous expense T F Equivalent units of production is the sum of units completed and transferred out plus equivalent units of beginning work in process. In process cost accounting, manufacturing costs are summarized on a job order cost sheet. Process order cost sheet. Production cost report. Manufacturing cost sheet. Price Manufacturing assigns overhead based on machine hours. The Milling Department logs 1, 800 machine hours and Cutting Department shows 3,000 machine hours for the period. If the overhead rate is $5 per machine hour, the entry to assign overhead will show a debit to Manufacturing Overhead for $24,000. credit to Work in Process-Cutting Department for $15,000. debit to Work in Process for $15,000. credit to Manufacturing Overhead for $24,000. Barnes and Miller Manufacturing uses a process cost system in its production department and is trying to determine the equivalent units for conversion costs. There are 28,000 physical units and no beginning units in the department. There are 10,000 units in ending work in process at 80% complete and conversion costs occur evenly throughout the entire production period. What are the equivalent units for conversion costs for the current period? 38,000. 36,000. 8,000. 26,000. Minor Company had the following department data: Physical Units Work in process, July 1 30,000 Completed and transferred out 135,000 Work in process, July 31 45,000 Materials are added at the beginning of the process. What is the total number of equivalent, t materials in July? 135,000. 150,000. 210,000. 180,000