The following account balances and information are available for ADC Company at the end of Manufacturing overhead Raw materials Work in process Finished goods Cost of goods sold Endine Balance $90,000 10.000 80,000 120,000 300,000 underapplied (contains 538,400 of applied overhead) (contains 557,600 of applied overhead) (contains $144,000 of applied overhead) The underapplied balance in the Manufacturing Overhead account is determined to be material (significant). After closing the Manufacturing Overhead account, Cost of Goods Sold would have a balance of $354,000 $330.000 $390,000 $246,000