Which of the following statements about under- or overapplied manufacturing overhead is correct? Multiple Choice After the entry to transfer over-or underapplied overhead to Cost of Goods Sold is posted, Manufacturing Overhead will have a zero balance. When Manufacturing Overhead has a credit balance, overhead Iis sald to be underapplied. At the end of the year, under-or overapplied overhead is carried over to the next year in the Manufacturing Overhead account. When annual financlal statements are prepared, overapplied overhead is reported In current llablities