Faughn Corporation Has Provided the Following Data Concerning Manufacturing Overhead

question 124

Multiple Choice

Faughn Corporation has provided the following data concerning manufacturing overhead for July: 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?

• A)Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $233,000
• B)Manufacturing overhead was overapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $233,000
• C)Manufacturing overhead was overapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000
• D)Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000

---

Definitions:

Translations

The process of converting text or speech from one language to another, maintaining the original meaning and context as accurately as possible.

Languages

Systems of communication used by particular communities, consisting of a set of sounds, symbols, or gestures, structured by grammatical rules and vocabulary.

Two-Word Verb

A verb phrase consisting of a verb plus an adverb or preposition, for example, "pick up" or "look after," that together function as a single verb.

Slang Words

Informal language, phrases, or jargon that are often understood only by particular groups and not appropriate for formal contexts.