5. Molano Corporation has provided the following data concerning manufacturing overhead for June: Actual manufacturing...
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5. Molano Corporation has provided the following data concerning manufacturing overhead for June: Actual manufacturing overhead incurred..... $69,000 Manufacturing overhead applied to jobs...... $76,000 The company's Cost of Goods Sold was $255,000 prior to adjusting for any underapplied or overapplied overhead. Which of the following statements is true? A. Manufacturing overhead was underapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $248,000 B. Manufacturing overhead was overapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $248,000 C. Manufacturing overhead was underapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $262,000 D. Manufacturing overhead was overapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $262,000
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