1.1 3 points 03:56:00 eBook References Exercise 3-33 Proration of Underapplied Overhead (LO 3-5) Sweet Tooth Confectionary Incurred $158,000 of manufacturing overhead costs during the year just ended. However, only $145,000 of overhead was applied to production. At the conclusion of the year, the following amounts of the year's applied overhead remained in the various manufacturing accounts. Work-in-Process Inventory Finished-Goods Inventory Cost of Goods Sold Required: Applied Overhead Remaining in Account on December 31 $36,250 43,500 65,250 Prepare a journal entry to close out the balance in the Manufacturing Overhead account and prorate the balance to the three manufacturing accounts. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet > 1 Record entry to close out the balance in the Manufacturing Overhead account and prorate to manufacturing accounts.