Which of the following is NOT an account that over/under applied overhead is transferred to at the end of an accounting period?
A) Cost of Goods Sold.
B) Work-in-Process.
C) Raw Materials.
D)Finished Goods.

Question

Quizplus · Accepted Answer

Over/under applied overhead is transferred to Cost of Goods Sold, Work-in-Process or Finished Goods accounts at the end of an accounting period. It is not transferred to Raw Materials account as it is not a manufacturing overhead account.

Which of the Following Is NOT an Account That Over/under