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Krispylynn33 Krispylynn33
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A year ago

Faughn 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?



▸ Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $233,000

▸ Manufacturing overhead was overapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $233,000

▸ Manufacturing overhead was overapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000

▸ Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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Quiera730Quiera730
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A year ago
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Krispylynn33 Author
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A year ago
Smart ... Thanks!
TheMoffattMan
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Yesterday
Brilliant ツ
kaytee23
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2 hours ago
Thanks for your help!!
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