4. value: 15.00 points The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead Work in Process (a) 377,000 (b) 415,000 Bal. 104,700 (c) 765,500 210,300 Bal. 38,000 114,900 (b) 415,000 Bal. 79,400 Finished Goods Cost of Goods Sold (d) 829,500 (d) 829,500 Bal. (c) 163,000 765,500 Bal. 99,000 The overhead that had been applied to production during the year is distributed among the ending balances in the accounts as follows: Work in process, ending Finished goods, ending Cost of goods Sold $ 24,900 49,800 340,300 Overhead applied $ 415,000 For example, of the $79,400 ending balance in work in process, $24,900 was overhead that had been applied during the year. Required: 1. Identify the reasons for entries (a) through (d). Entry Reason (a) (b) (c) (d) 2. Assume that the company closes any balance in the manufacturing overhead account directly to cost of goods sold. Prepare the necessary journal entry. (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