Globe Manufacturing Company's Manufacturing Overhead Account Has a Credit Balance

Multiple Choice

Globe Manufacturing Company's Manufacturing Overhead account has a credit balance at the end of a period.What does this imply?

A) Actual overhead costs were less than overhead costs applied to jobs.
B) Actual overhead costs were greater than overhead costs applied to jobs.
C) Actual overhead costs were equal to overhead costs applied to jobs.
D) No overhead has been applied during the year.