At the current year-end, Simply Company found that its overhead was underapplied by $2,500, and this amount was not considered material. Based on this information, Simply should: Multiple Choice Close the $2,500 to Cost of Goods Sold. Close the $2,500 to Finished Goods Inventory. Do nothing about the $2,500, since it is not material, and it is likely that overhead will be overapplied by the same amount next year. Carry the $2,500 to the income statement as "Other Expense". Carry the $2,500 to the next period.

Close the $2,500 to Cost of Goods Sold

Explanation:

The under applied overhead is added to the Cost of Goods Sold amount.

The same amount would be debited to the cost of goods sold and the manufacturing overhead would be credited with the same amount that is $ 2500.

Under applied overhead means that the overhead actually incurred is more than the overhead planned of to be incurred. So we add back the amount by which it is less.

answerchemical property;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.