31,340 verapplied 39) Faughn Corporation has provided the following data coneerming manufacturing over July: Actual manufacturing overhead incurred Manufacturing overhead applied to Work in Process $ 69,000 $ 79,000 Th e company's Cost of Goods Sold was $243,000 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true? A) Manufacturing the Manufacturing Overhead account is $233,000 B) Manufacturing overhead the Manufacturing Overhead account is $233,000 overhead was underapplied by $10,000; Cost of Goods Sold after closing out was overapplied by $10,000; Cost of Goods Sold after closing out by s10,000; Cost of Goods Sold after closing out Manufacturing overhead was overapplied he Manufacturing Overhead account is $253,000 )Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000 40) Braam Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 11,500 hours. At the end of the year, actual direct labor-hours for the year were 9,700 hours, the actual manufacturing overhead for the year was $143,350, and manufacturing overhead for the year was underapplied by $18,220. The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been: (Round your intermediate calculations to 2 decimal places.) ) $164,023 $125,130 C) $148,350 D) $138,350