At the End of the Year,Jenkins Corporation Had $120,000 in the Factory

question 66

Multiple Choice

At the end of the year,Jenkins Corporation had $120,000 in the Factory Overhead account and applied factory overhead of $100,000.Mark Gibbs,the controller,has decided that the difference is to large to close to Cost of Goods Sold.Work in process inventories were $30,000,finished goods inventories were $60,000 and cost of goods sold during the year was $210,000.How should the entry to dispose of the difference in overhead incurred and overhead applied affect Cost of Goods Sold?

• A)$14,000 credit.
• B)$14,000 debit.
• C)$6,000 credit.
• D)20,000 debit.

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