overapplied manufacturing overhead exists when overhead assigned to work in process 617641

Overapplied manufacturing overhead exists when overhead assigned to work in process is:

  1. more than overhead incurred and there is a debit balance in Manufacturing Overhead at the end of a period.
  2. less than overhead incurred and there is a debit balance in Manufacturing Overhead at the end of a period.
  3. more than overhead incurred and there is a credit balance in Manufacturing Overhead at the end of a period.
  4. less than overhead incurred and there is a credit balance in Manufacturing Overhead at the end of a period.