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Bayview Manufacturing has $16,000 of under-applied overhead in Manufacturing Overhead at December 31 and the following account balances at year end:

Work in Process Inventory $10,000

Finished Goods Inventory 20,000

Cost of Goods Sold 70,000

Total costs$ 100,000

The portion of under-applied overhead that should be applied to Cost of Goods Sold is

$16,000.

$11,200.

$1,120.

($11,200).