0.06 doints eBook References 30s The following information is available for the current year ending December 31 Manufacturing overhead applied Actual amount of manufacturing overhead costs Amount of overhead applied during the year that is in Work in Process Finished Goods Cost of Goods Sold Total overhead applied Knowledge Check 01 $ 150,000 120,000 B 5 37,500 25% 52,500 356 60,000 40% $ 150,000 100% If the Manufacturing Overhead account is closed to Cost of Goods Sold, the related entry will decrease the cost of goods sold by $30,000 O increase the cost of goods sold by $30,000 O decrease the cost of goods sold by $150,000 O increase the cost of goods sold by $150,000 Knowledge Check 02 0.06 points References Knowledge Check 01 If the Manufacturing Overhead account is closed to Cost of Goods Sold, the related entry will O decrease the cost of goods sold by $30,000 O increase the cost of goods sold by $30,000 O decrease the cost of goods sold by $150,000 increase the cost of goods sold by $150,000 Knowledge Check 02 If the Manufacturing Overhead account is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold, the related entry will include a O debit to Cost of Goods Sold for $12,000 credit to Cost of Goods Sold for $12,000 credit to Cost of Goods Sold for $30,000 debit to Work in Process for $7,500