3. (10 points) Moira Company has just finished its first year of operations and must decide which method to use for adjusting cost of goods sold. Because the company used a budgeted indirect-cost rate for its manufacturing operations, the amount that was allocated (9435,000) to cost of goods sold was different from the actual amount incurred ($425,000). Ending balances in the relevant accounts were: Work-in-Process $40,000 Finished Goods 80,000 Cost of Goods Sold 680,000 a. (4 points) Prepare a journal entry to write off the difference between allocated and actual overhead directly to Cost of Goods Sold. Be sure your journal entry closes the related overhead accounts b. (6 points) Prepare a journal entry that prorates the write-off of the difference allocated and actual overhead using ending account balances. Be sure your journal entry closes the related overhead accounts