Which of the following is true with respect to writing off an overapplied manufacturing overhead to Cost of Goods Sold?

Multiple Choice

Cost of Goods Sold will be lower after writing off the overapplied manufacturing overhead.

Work-in-Process Inventory will be lower after writing off the overapplied manufacturing overhead.

Finished Goods Inventory will be higher after writing off the overapplied manufacturing overhead.

Operating income will be lower after writing off the overapplied manufacturing overhead.