1. Gloucester, Inc. provided the following information for the month:

   Manufacturing overhead incurred	300,000
   Manufacturing overhead allocated to production	295,000
   Cost of goods sold	442,300

   What was the balance in Cost of Goods Sold after the adjustment for over-allocated or under-allocated overhead at the end of the month?

   	A.	$437,300 debit balance
   	B.	$447,300 credit balance
   	C.	$437,300 credit balance
   	D.	$447,300 debit balance