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During the year, a company incurred $494,000 of factory overhead costs and applied $500,000 of...

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Accounting

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During the year, a company incurred $494,000 of factory overhead costs and applied $500,000 of factory overhead costs. At the year-end, the adjustment entry needed to adjust the Factory Overhead account balance to zero will include a debit to Cost of Goods Sold. True False

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