3 . - 1 Paragraph Styles 3. Geoffrey Manufacturing Ltd. incurred actual manufacturing overhead costs of $822,400 during the last fiscal year. The number of units manufactured was greater than planned, resulting in manufacturing overhead applied of $865,000. The following balances exist at year end Raw materials inventory $ 48.000 Work-in-process inventory $ 72.000 Finished goods inventory $ 86.400 Cost of goods sold $321,600 Management has determined that the proportion of manufacturing overhead is the same for each account that has been allocated manufacturing overhead. Required: a) Prepare the journal entry required to dispose of the over-applied manufacturing overhead b) How would the entry differ if the manufacturing overhead had been underapplied? Why is there a difference? c) Provide one reasonable explanation as to why management chose to use the ending account balances rather than determine the actual amount of manufacturing overhead in each account balance. 5 2 1 Accessibility investigate o O ap O > S