At the end of the year the Manufacturing Overhead account is closed into what account?

Question

Quizplus · Accepted Answer

The Manufacturing Overhead account is a temporary account used to accumulate indirect manufacturing costs throughout the year. At the end of the year, the balance of this account is closed out and transferred to the Cost of Goods Sold account, which reflects the total costs incurred to produce the goods that were sold during the year. Thus, the correct answer is B.

At the End of the Year the Manufacturing Overhead Account