Remaining Time: 1 hour, 24 minutes, 44 seconds. Question Completion Status: XYZ Manufacturing uses a predetermined overhead rate, based on labor hours, to apply its MOH. The following information was taken from the cost records of the company. Total Estimated Manufacturing Overhead $3,240,000 Actual Direct labor hours-- -80,000 Actual Manufacturing Overhead incurred $3,200,000 Estimated Direct labor hours- 90,000 Assume that the following account balances exist: WIP $500,000 Finished Goods 800,000 Cost of Goods Sold 700,000 To write-off or dispose of the over/under allocation of MOH by using the account balance method would include A) Debit to cost of goods sold, $320,000 B) Debit to WIP, $80,000 and cost of goods sold, $112,000 C) Credit to WIP, $80,000 and cost of goods sold, $112,000 D) Debit, MOH, $320,000; Credit Cost of Goods Sold, $320,000