QUESTION 1 Whitman Corporation has provided data concerning the company's Manufacturing Overhead account for the month of February. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debit to the Manufacturing Overhead account was $57,000 and the total credit to the account was $75,000. Which of the following statements is true? Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $75,000 Actual manufacturing overhead incurred during the month was $57,000 Overhead applied to Work in Process for the month was $75,000 $18,000 of overapplied Manufacturing overhead is reported for the month