At the end of the accounting period, the Manufacturing Overhead account has total debits of $$62,000$ and total credits of $$60,000.$ What should the accountant do with the balance remaining in the Manufacturing Overhead account?

Multiple Choice

$$ Close out the balance of the Manufacturing Overhead account to Cost of Goods Sold.

$$ Nothing. The balance in the Manufacturing Overhead account should be carried forward to the next accounting period.

$$ Close out the balance of the Manufacturing Overhead account to Other Expense.

$$ Close out the balance of the Manufacturina Overhead account to Retained Earninas.