At the end of the fiscal year, the balance in Factory Overhead is small. This balance would normally be:

Question

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Since the balance in Factory Overhead is small, it is likely that all manufacturing costs for the fiscal year have already been allocated to products. Any remaining balance in Factory Overhead should be transferred to Cost of Goods Sold as an adjustment to account for any variances or discrepancies in the actual manufacturing costs compared to the allocated costs. This will help ensure accurate reporting of the company's cost of goods sold for the fiscal year.

At the End of the Fiscal Year, the Balance in Factory