Question
At the end of the year, Easton Company had a balance in Manufacturing Overhead of $20,000, and a balance in Manufacturing Overhead Applied of $19,000.
At the end of the year, Easton Company had a balance in Manufacturing Overhead of $20,000, and a balance in Manufacturing Overhead Applied of $19,000. When the Manufacturing Overhead account is closed, the Cost of Goods Sold account will be:
Increased by $1,000.
Decreased by $1,000.
Unaffected.
Closed to Manufacturing Overhead Applied.
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th edition
134128524, 978-0134128528
