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If the manufacturing overhead costs have been overallocated to jobs completed during the current month by $52,000, how would the balance sheet and cost of
If the manufacturing overhead costs have been overallocated to jobs completed during the current month by $52,000, how would the balance sheet and cost of goods sold financial statements be impacted if we assume that 59% of the goods have been sold?
A) Finished Goods would be overstated by $30,680 and Cost of Goods Sold would be understated by $21,320
B) Cost of Goods Sold would be understated by $21,320 and Finished Goods would be understated by $30,680.
C) Cost of Goods Sold would be overstated by $30,680 and Finished Goods would be overstated by $21,320.
D) Cost of Goods Sold would be overstated by $21,320 and Work in Process would be overstated by $30,680.
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