Connecticut Manufacturing began business on January 1. During its first year of operation, Connecticut worked on five industrial jobs and reported the following information at year-end:
Connecticut's allocation of overhead costs left a debit balance of $1400 in the Manufacturing Overhead account, which was adjusted to zero at year-end. What was the final balance in Cost of Goods Sold for the year ended December 31?
A) $55,300
B) $56,700
C) $53,900
D) $17,900
B) $56,700
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