Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $67,000 and the total of the credits to the account was $57,000
Which of the following statements is true?
1. Manufacturing overhead for the month was overapplied by $10,000.
2. Actual manufacturing overhead for the month was $67,000.
3. Manufacturing overhead applied to Work in Process for the month was $67,000.
4. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $57,000.