At the end of the​ year, Metro, Inc. has an unadjusted credit balance in the Manufacturing Overhead account of​ $820. Which of the following is the year−end adjusting entry needed to adjust the​ account?   A. A debit to Cost of Goods Sold of​ $820 and a credit to Manufacturing Overhead of​ $820   B. A debit to Cost of Goods Sold of​ $820 and a credit to Finished Goods Inventory of​ $820   C. A debit to Manufacturing Overhead of​ $820 and a credit to Cost of Goods Sold of​ $820   D. A debit to Manufacturing Overhead of​ $820 and a credit to Finished Goods Inventory of​ $820

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 17E: Nelson Fabrication Inc. had a remaining credit balance of $20,000 in its under- and overapplied...
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At the end of the​ year, Metro, Inc. has an unadjusted credit balance in the Manufacturing Overhead account of​ $820. Which of the following is the
year−end
adjusting entry needed to adjust the​ account?
 
A.
A debit to Cost of Goods Sold of​ $820 and a credit to Manufacturing Overhead of​ $820
 
B.
A debit to Cost of Goods Sold of​ $820 and a credit to Finished Goods Inventory of​ $820
 
C.
A debit to Manufacturing Overhead of​ $820 and a credit to Cost of Goods Sold of​ $820
 
D.
A debit to Manufacturing Overhead of​ $820 and a credit to Finished Goods Inventory of​ $820
 
 
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