Ivory Company Uses a Job-Order Costing System $\begin{array}{llcc} \text { Finished Goods} &\$4,150 \\ \text {Manufacturing Overhead }&&\$4,150\end{array}$

question 11

Multiple Choice

Ivory Company uses a job-order costing system.What year-end journal entry could Ivory make to dispose of (close out) $4,150 of overapplied manufacturing overhead cost?

• A) \(\begin{array}{llcc}
• \text { Finished Goods} &\$4,150 \\
• \text {Manufacturing Overhead }&&\$4,150
• \end{array}\)
• B) \(\begin{array}{llcc}
• \text { Cost of Goods Sold} &\$4,150 \\
• \text {Manufacturing Overhead }&&\$4,150
• \end{array}\)
• C) \(\begin{array}{llcc}
• \text { Manufacturing Overhead} &\$4,150 \\
• \text { Finished Goods }&&\$4,150
• \end{array}\)
• D) \(\begin{array}{llcc}
• \text { Manufacturing Overhead} &\$4,150 \\
• \text { Cost of Goods Sold }&&\$4,150
• \end{array}\)

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