For an Automobile Company, the Total Overhead Applied Was $48,000,000

question 89

Multiple Choice

For an automobile company, the total overhead applied was $48,000,000 at the end of the year.Actual overhead was $52,850,000.Closing over/under applied overhead into cost of goods sold would cause net income to:

• A) increase by $4,850,000.
• B) decrease by $4,850,000.
• C) stay the same.
• D) decrease by $400,000.

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