The Robinson Corporation manufactures automobile parts. During the year, the company sold $5,600,000 of parts that had a cost of $3,200,000. At year end, these are the balances for cost of goods sold and its manufacturing overhead accounts: Cost of goods sold $3,200,000 Manufacturing overhead allocated $1,400,000 Manufacturing overhead control $1,495,000 What would be the correct journal entry to close out the overhead accounts assuming that the write-of to cost of goods sold approach is used?

A.

Sales

$5,600,000

Cost of goods sold $3,200,000 Gross profit $2,400,000

B.

Manufacturing overhead control

$1,495,000

Cost of goods sold $95,000 Manufacturing overhead allocated $1,400,000

C.

Cost of goods sold

$95,000

Manufacturing overhead allocated $1,400,000 Manufacturing overhead control $1,495,000

D.

Finished goods

$95,000

Manufacturing overhead allocated $1,400,000 Manufacturing overhead control $1,495,000