At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,300,000. Closing over/under...

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At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,300,000. Closing over/under applied overhead into cost of goods sold would cause net income to: Decrease by $700,000 Remain constant Increase by $700,000 Decrease by $300,000 At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,300,000. Closing over/under applied overhead into cost of goods sold would cause net income to: Decrease by $700,000 Remain constant Increase by $700,000 Decrease by $300,000