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In the preparation of the schedule of Cost of Goods Manufactured, the accountant incorrectly included as part of manufacturing overhead the rental expense on the
In the preparation of the schedule of Cost of Goods Manufactured, the accountant incorrectly included as part of manufacturing overhead the rental expense on the firms retail facilities. This inclusion would: a. overstate period expenses on the income statement. b. overstate the cost of goods sold on the income statement. c. understate the cost of goods manufactured. d. have no effect on the cost of goods manufactured.
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