The following accounts are from last year’s books at Sharp Manufacturing:

Raw Materials
Bal 0 (b) 155,600
(a) 168,000
12,400
Work In Process
Bal 0 (f) 516,400
(b) 132,800
(c) 169,600
(e) 214,000
0
Finished Goods
Bal 0 (g) 468,000
(f) 516,400
48,400
Manufacturing Overhead
(b) 22,800 (e) 214,000
(c) 26,800
(d) 157,600
6,800
Cost of Goods Sold
(g) 468,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overhead overapplied or underapplied for the year?
a.$6,800 underapplied

b.$6,800 overapplied

c.$26,800 underapplied

d.$26,800 overapplied

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.

The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.

On january 1, eastern college received $1,350,000 from its students for the spring semester that it recorded in unearned tuition and fees. the term spans four months beginning on january 2 and the college spreads the revenue evenly over the months of the term. assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on february 28?