The applied overhead is compared to the actual overhead, with any discrepancy going into one of the following three accounts: goods in process inventory, finished goods inventory, or cost of goods sold.
a) true
b) false

There are 2 methods of allocating under-applied / over-applied overheads under of the methods any discrepancy is allocated to all of the three accounts, that is finished goods, work-in-progress and cost of goods sold. Under the other method, all of it is allocated to cost of goods sold. Hence, given statement is false

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The applied overhead is compared to the actual overhead, with any discrepancy going into one of the following three accounts: goods in process inventory, finished goods inventory, or cost of goods sold. a) true b) false

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The applied overhead is compared to the actual overhead, with any discrepancy going into one of the following three accounts: goods in process inventory, finished goods inventory, or cost of goods sold.
a) true
b) false