13. The operations of the Kerr}T Company resulted in nnderapplied overhead of $5,555. The entry to close out this balance to Cost of Goods Sold and the effect of the underapplied overhead on Net Income would he: Entry Effect on Net Income A} Manufacturing Overhead 5,555 Increase $5,555 Cost of Goods Sold 5,555 3} Cost of Goods Sold 5,555 Increase $5,555 Manufacturing 5,555 Overhead C) Cost of Goods Sold 5,555 Decrease $5,555 Manufacturing Overhead 5,555 13} Manufacturing Overhead 5,555 Decrease $5,555 Cost of Goods Sold 5,555