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In a normal costing system, when Manufacturing Overhead is under-applied: Cost of Goods Sold is understated Work in Process Inventory is overstated Finished Goods Inventory

In a normal costing system, when Manufacturing Overhead is under-applied:

Cost of Goods Sold is understated

Work in Process Inventory is overstated

Finished Goods Inventory is overstated

Gross Profit is understated

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