You helped me survive accounting! I owe my grade to you sir! I learned more in a week from watching your videos than from my professor all semester! Thank you!!!
Your videos are so helpful. Thankyou so much. I do pretty well in financial accounting but management accounting is very tricky to me but your videos make it so much easier
My question is related to the underapplied overhead. That is, in the Manufacturing Statement, why do we SUBTRACT the underapplied overhead from the Total Cost of Goods in Process to calculate the Cost of Goods Manufactured? When we realize that we underapplied, or underestimated the cost, we are supposed to ADD the amount back to the cost so that we can state the correct one?
I think it is because when we have the underapplied overhead, we actually use the budgeted overhead rate multiply with the actual quantity to calculate the manufactoring cost. But the budgeted overhead rate is calculated by the budgeted quantity (which is higher than the actual quantity in this case), therefore we have to subtract for the adjustment.
You are an excellent teacher and superb communicator! Thanks for clearly explaining this. I love the visuals!
You helped me survive accounting! I owe my grade to you sir! I learned more in a week from watching your videos than from my professor all semester! Thank you!!!
Very clear instructions. Thank you. Look forward to learning more from your videos.
You are an amazing teacher!! You explain concepts so clearly
I still remember that lecture and the restaurant name...professor Larry. thanks again, you are the greatest teacher that i had ever.
Excellent vídeo, very helpful!!!! Your examples are easy to understand, thank you so much!
Your videos are so helpful. Thankyou so much. I do pretty well in financial accounting but management accounting is very tricky to me but your videos make it so much easier
Excellent work. Thank you.
Professor of the year!
This is fantastic, thank you! Better than my professor.
Simply Excellent...Cheers
Amazing teacher and videos
Thank you so much for sharing .
Great help!
My question is related to the underapplied overhead. That is, in the Manufacturing Statement, why do we SUBTRACT the underapplied overhead from the Total Cost of Goods in Process to calculate the Cost of Goods Manufactured? When we realize that we underapplied, or underestimated the cost, we are supposed to ADD the amount back to the cost so that we can state the correct one?
I think it is because when we have the underapplied overhead, we actually use the budgeted overhead rate multiply with the actual quantity to calculate the manufactoring cost. But the budgeted overhead rate is calculated by the budgeted quantity (which is higher than the actual quantity in this case), therefore we have to subtract for the adjustment.
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Thanks a lot