Porter Company uses job-order costing. During January, the following data were reported:

a. Materials purchased: direct materials, $82,000; indirect materials, $10,500.

b. Materials issued: direct materials, $72,500; indirect materials, $7,000.

c. Labor cost incurred: direct labor, $52,000; indirect labor, $15,750.

d. Other manufacturing costs incurred (all payables), $49,000.

e. Overhead is applied on the basis of 125% of direct labor cost.

f. Work finished and transferred to Finished Goods cost $160,000.

g. Finished goods costing $140,000 were sold on account for 150 percent of cost.
h. Any over- or underapplied overhead is closed to Cost of Goods Sold.
Required:
1. Prepare journal entries to record these transactions.
2. Prepare a T-account for Manufacturing Overhead. Post all relevant information to this account. What is the ending balance in this account?
3. Prepare a T-account for Work in Process. Assume a beginning balance of $10,000 and post all relevant information to this account. Did you assign any actual overhead costs to Work in Process? Why or why not?