Question 6 4.6 pts Marc Smith Company closes any under or over-applied overhead to cost of goods sold. Failure to eliminate le close) an under-application of manufacturing overhead will result in which of the following situations? Cost of Goods Sold Understated Income Overstated Cost of Goods Sold Overstated Income Understated Cost of Goods Sold Understated in.com No Effect Costa Goods sold Overitated Income No Effect Costot.Goods Sold Understated Income Understated