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For Peterson Company, total overhead applied was $35,000,000 at the end of the year. Actual overhead was $35,800,000. Closing over/under applied overhead into cost of

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For Peterson Company, total overhead applied was $35,000,000 at the end of the year. Actual overhead was $35,800,000. Closing over/under applied overhead into cost of goods sold would cause net income to: stay the same increase by $200,000 decrease by $200,000 increase by $800,000 decrease by $800,000

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