Ivory Company Uses a Job-Order Costing System $\begin{array}{llcc} \text { Finished Goods} &\$4,150 \\ \text {Manufacturing Overhead }&&\$4,150\end{array}$

Multiple Choice

Ivory Company uses a job-order costing system.What year-end journal entry could Ivory make to dispose of (close out) $4,150 of overapplied manufacturing overhead cost?

A) $\begin{array}{llcc} \text { Finished Goods} &\$4,150 \\ \text {Manufacturing Overhead }&&\$4,150\end{array}$

B) $\begin{array}{llcc} \text { Cost of Goods Sold} &\$4,150 \\ \text {Manufacturing Overhead }&&\$4,150\end{array}$

C) $\begin{array}{llcc} \text { Manufacturing Overhead} &\$4,150 \\ \text { Finished Goods }&&\$4,150\end{array}$

D) $\begin{array}{llcc} \text { Manufacturing Overhead} &\$4,150 \\ \text { Cost of Goods Sold }&&\$4,150\end{array}$