A just want the answer , no need for steps Which of the following is correct with respect to closing outoverapplied manufacturing overhead to Cost of Goods Soldversus closing it out to Work-in-Process Inventory, FinishedGoods Inventory, and Cost of Goods Sold?O a. Cost of Goods Sold will be lower if the overappliedoverhead is closed out by allocating it to the inventoryaccounts as well as to Cost of Goods Sold.O b. The balance in the Work-in-Process account afterallocation will be higher if the overapplied overheadlisclosed out by allocating it to all appropriate accounts.O c. None of given answer is correct.d. The balance in the Work-in-Process account afterallocation will be the same under either method.e. Operating income will be higher if all of theoverapplied overhead is closed out to Cost of GoodsSold.DELL

The Over Applied or Under applied Manufacturing Overhead is Difference between Manufacturing…

Which of the following is correct with respect to closing out overapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold? O a. Cost of Goods Sold will be lower if the overapplied overhead is closed out by allocating it to the inventory accounts as well as to Cost of Goods Sold.

Which of the following is correct with respect to closing out overapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold? O a. Cost of Goods Sold will be lower if the overapplied overhead is closed out by allocating it to the inventory accounts as well as to Cost of Goods Sold.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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