An overallocation of manufacturing overhead is typically corrected by increasing Cost of Goods Sold on the income statement.

Name: An overallocation of manufacturing overhead is typically corrected by increasing Cost of Goods Sold on the income statement.
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An overallocation of manufacturing overhead is typically corrected by decreasing Cost of Goods Sold on the income statement, as the initial allocation had resulted in too high of an expense being recorded.

An Overallocation of Manufacturing Overhead Is Typically Corrected by Increasing