XYZ Company uses the write off to COGS method for correcting the misallocation of overhead....
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Accounting
XYZ Company uses the write off to COGS method for correcting the misallocation of overhead. During the period, XYZ overallocated overhead costs to jobs by $1,000. The journal entry to correct this overallocation would include which of the following:
1. A debit to cost of goods sold
2. A debit to finished goods inventory
3. A credit to manufacturing overhead
4. A credit to cost of goods manufactured
5. None of the above
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