One Company uses a normal cost system. The overhead variance for the current period is $40,000 overapplied, and the amount is not material. The accounting system provides the following account balances. Materials inventory $20,000 Work-in-process inventory 30,000 Finished goods inventory 20,000 Cost of goods sold 50,000 The entry to adjust for the overhead variance would include A credit to cost of goods sold for $40,000 A debit to cost of goods sold for $40,000 A debit to finished goods inventory for $8,000 A credit to finished goods inventory for $8,000 One Company uses a normal cost system. The overhead variance for the current period is $40,000 underapplied, and the amount is not material. The accounting system provides the following account balances. Materials inventory $20,000 Work-in-process inventory 30,000 Finished goods inventory 20,000 Cost of goods sold 50,000 The entry to adjust for the overhead variance would include A credit to cost of goods sold for $20,000 A debit to cost of goods sold for $20,000 A credit to cost of goods sold for $40,000 A debit to cost of goods sold for $40,000