1 7 12.5 points Woodstock Corporation applies overhead based upon labor-hours. Budgeted factory overhead was $266,400 and budgeted labor-hours were 18,500. Actual factory overhead was $287,920 and actual labor-hours were 19,050. Before disposition of under/overapplied overhead, account balances were as follows: 2 Account 3 WIP Finished Goods 4 Cost of Goods Sold Total 5 Total Account Balance $190,000 Labor Hours Reflected in Each Account 250,000 1,905 hours 6,667.50 hours 560,000 $1,000,000 10,477.50 hours 19,050 hours Using the proration approach based on the amount of overhead in each account balance, the ending balance in WIP after adjustment would be 6 19 $192,584 $187,416 7 $188,640 8 $191,360