A company charged the following amounts of overhead to jobs during the current year: $12,000 to jobs still in process, $42,000 to jobs completed but not sold, and $66,000 to jobs finished and sold. At year-end, the company's Factory Overhead account has a credit balance of $9,000. What entry (if any) should the company make at year-end related to this overhead balance?

What will be an ideal response?


Dec. 31Factory Overhead …………………………9,000?
?  Cost of Goods Sold …………………….?9,000

Business

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Business

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Business

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Business