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Vaughn Corporation is analyzing its account balances for 2020. As of the end of 2020, a debit balance of $3900 remains in the Manufacturing Overhead
Vaughn Corporation is analyzing its account balances for 2020. As of the end of 2020, a debit balance of $3900 remains in the Manufacturing Overhead account. What impact will this have on the financial statements?
| It will increase assets by $3900 and have no effect on income. |
| It will increase income by $3900. |
| It will reduce income by $3900. |
| It will decrease gross profit but have no effect on income. |
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