Wycliff Corp.

Vendor: Saylor
Product: BUS105
Update on: Jan 2, 2026
Questions: 50

Saylor BUS105 Question Answer

Wycliff Corp. had an immaterial credit balance of $1,250 in the manufacturing overhead account after $21,750 was applied to the WIP inventory account. To close the manufacturing overhead account at the end of the period, assuming no further transactions took place, what should Wycliff do?

Debit manufacturing overhead $1,250; credit cost of goods sold $1,250

Debit cost of goods sold $1,250; credit manufacturing overhead $1,250

Debit manufacturing overhead $20,500; credit cost of goods sold $20,500

Debit cost of goods sold $20,500; credit manufacturing overhead $20,500