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Question
Sanders Inc. has applied $567,988 of overhead to jobs in the cost ledger. Actual overhead at the end of the year is $575,000. The adjustment for over- or underapplied overhead is
a. $7,012 overapplied, increase Cost of Goods Sold
b. $7,012 underapplied, increase Cost of Goods Sold
c. $7,012 overapplied, decrease Cost of Goods Sold
d. $7,012 underapplied, decrease Cost of Goods Sold
Answer
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