During the Current Accounting Period, O'Hare Applied $14,500 of Estimated

Multiple Choice

During the current accounting period, O'Hare applied $14,500 of estimated overhead cost to production. Actual overhead costs were $14,325. Assuming that the balance in the Manufacturing Overhead is insignificant, the recognition of the transaction to close that account will: This makes the explanation much easier

A) Decrease cost of goods sold and increase stockholder's equity.
B) Increase cost of goods sold.
C) Decrease stockholder's equity.
D) Decrease total assets and total liabilities. This makes the explanation much easier