Lietz Corporation Has Provided the Following Data Concerning Manufacturing Overhead

question 108

Multiple Choice

Lietz Corporation has provided the following data concerning manufacturing overhead for January: The company's Cost of Goods Sold was $369,000 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 $23,000;Cost of Goods Sold after closing out the Manufacturing Overhead account is $392,000
• B)Manufacturing overhead was underapplied by $23,000;Cost of Goods Sold after closing out the Manufacturing Overhead account is $346,000
• C)Manufacturing overhead was overapplied by $23,000;Cost of Goods Sold after closing out the Manufacturing Overhead account is $346,000
• D)Manufacturing overhead was overapplied by $23,000;Cost of Goods Sold after closing out the Manufacturing Overhead account is $392,000

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Definitions:

Hypertension

A chronic medical condition in which the blood pressure in the arteries is persistently elevated.

Drug Toxicity

Harmful effects caused by excessive or inappropriate use of medication and substances, leading to adverse health consequences.

Extra Doses

Additional quantities of medication administered beyond the initial prescribed amount, which can be intentional for therapeutic reasons or accidental.

Medications

Substances used for medical treatment, especially drugs or pills.