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Q4. Huda Corporation's accounting information system showed the following balances at the end of this period: Miss-applied overhead this period totaled $60,000; Huda maintains a

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Q4. Huda Corporation's accounting information system showed the following balances at the end of this period: Miss-applied overhead this period totaled $60,000; Huda maintains a single overhead account in its general ledger. If the miss-applied overhead is considered material, prepare the journal entry to record its disposition. Discuss why you could have Misallocated Overhead? (Ch 5 Marks 4)

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