(0 Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overopplied Overhead [LO3-1, LO3-2, LO3-4) The following information is taken from the accounts of Latta Company. The entries in the Taccounts are summaries of the transactions that affected those accounts during the year Manufacturing Overhead 506, (b) 422,400 84.40 Bal. Work in Process 2.600 (0) 330. o Bal. 799,00 60,000 Bal 6 Finished Goods 30, (d) 790,000 100,000 1. 622.600 Cost of Goods Sold 680,000 (d) The overhead that had been applied to production during the year is distributed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows: $ 28,00 67,200 Work in Process, ending Finished Goods, ending Cost of Goods Sold Overhead applied $422.400 For example of the $60,000 ending balance in work in process. $28.800 was overhead that had been applied during the year