At the Beginning of the Year, Shoeman Corporation Estimates Its

At the beginning of the year, Shoeman Corporation estimates its overhead for the year will be $150,000. Suppose the actual overhead for the year is $160,000 and the applied overhead for the year is $145,000. Assume that the overhead variance is insignificant. What journal entry is needed to reconcile the overhead variance?

A) Cost of Goods Sold 15,000
Overhead Control 15,000
B) Overhead Control 15,000
Cost of Goods Sold 15,000
C) Cost of Goods Sold 5,000
Overhead Control 5,000
D) Overhead Control 5,000
Cost of Goods Sold 5,000