Underallocated overhead occurs when

a. actual overhead costs are less than allocated overhead costs

b. estimated overhead costs are greater than actual overhead costs

c. estimated overhead costs are greater than budgeted overhead costs

d. allocated overhead costs are less than actual overhead costs

Which of the following most accurately describes how the equilibrium price of a good or service can be determined? a. by moving the supply curve right or left until it matches the demand curve. b. by finding where the supply curve and the demand curve intersect. c. by doing market research to determine the maximum price consumers will pay. d. by taking the opposite of the columns in a supply schedule and a demand schedule.