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XYZ Corporation has provided the following data concerning manufacturing overhead for July: Actual manufacturing overhead incurred $ 69,000 Manufacturing overhead applied to Work in Process
XYZ Corporation has provided the following data concerning manufacturing overhead for July: Actual manufacturing overhead incurred $ 69,000 Manufacturing overhead applied to Work in Process $ 79,000 The company's Cost of Goods Sold was $243,000 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true?
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