Closing over under applied overhead into cost of goods sold

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At the end of the year, overhead applied was $3,272,961. Actual overhead was $3,742,718. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by?

Reference no: EM131103671

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Closing over under applied overhead into cost of goods sold : At the end of the year, overhead applied was $3,272,961. Actual overhead was $3,742,718. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by?
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