Question: There are two acceptable methods for closing out any balance of underapplied or overapplied manufacturing overhead. One method involves allocation of the balance among several

There are two acceptable methods for closing out any balance of underapplied or overapplied manufacturing overhead. One method involves allocation of the balance among several accounts, whereas the other closes any balance directly to:

Cost of Goods Sold.

Cost of Goods Manufactured.

Work in Process inventory.

Finished Goods inventory.

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