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The manufacturing overhead account at the end of the year is presented below: Manufacturing Overhead $560,000 $ 525,000 If the amount of over or under
The manufacturing overhead account at the end of the year is presented below: Manufacturing Overhead $560,000 $ 525,000 If the amount of over or under allocated overhead is not material and most of the inventory has been sold, indicate the correct result from closing the manufacturing overhead account. Cost of goods sold will be decreased by $35,000 Cost of goods sold will be increased for $35,000 The difference of $35,000 will be allocated to WIP Inventory, Finished Good Inventory, and COGS. Manufacturing overhead of $35,000 will be charged to WIP inventory
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