Check my work Problem 7-51 (Algo) Assigning Costs: Missing Data (LO 7-2, 3) The following T-accounts represent November activity. Materials Inventory EB (11/30) 55,500 Work-In-Process Inventory BB (11/1) 32,100 Dir.Materials 86,700 | Cost of Goods Sold Finished Goods Inventory EB (11/30) 99,000 Manufacturing Overhead Control Applied Manufacturing Overhead 261,000 Sales Revenue 723,600 Wages Payable Additional Data Materials of $113,400 were purchased during the month, and the balance in the Materials Inventory account increased by $11,100. Overhead is applied at the rate of 150 percent of direct labor cost. Sales are billed at 180 percent of cost of goods sold before the over- or underapplied overhead is prorated. The balance in the Finished Goods Inventory account decreased by $29,500 during the month before any proration of under-or overapplied overhead. Total credits to the Wages Payable account amounted to $204,000 for direct and indirect labor, Factory depreciation totaled $36,530. Overhead was underapplied by $24,240. Overhead other than indirect labor, indirect materials, and depreciation was $203,110, Factory depreciation totaled $36,530. Overhead was underapplied by $24,240. Overhead other than indirect labor, indirect materials, and depreciation was $203,110, which required payment in cash. Underapplied overhead is to be allocated. The company has decided to allocate 25 percent of underapplied overhead to Work-in-Process Inventory, 10 percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T-accounts are before any allocation. Required: Complete the T-accounts. Not all amount fields to be populated have accompanying descriptions. Materials Inventory Beg. Bal. (11/1) Purchases Work-in-Process Inventory 32,100 86,700 113,4001 Direct materials Indirect materials Beg. Bal. (11/1) Direct materials Direct labor Overhead applied Bal. End. Bal. (11/30) 55,500 118,800 End. Bal. (11/30) 118,800 Finished Goods Inventory Cost of Goods Sold Beg. Bal. (11/1) | Beg. Bal. (11/1) Finished Goods Inventory Cost of Goods Sold Beg. Bal. (11/1) Beg. Bal. (11/1) Bal. L 99,000 End. Bal. (11/30) 99,000 End. Bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead 261,000 Beg. Bal. (11/1) Beg. Bal. (11/1) Indirect materials End. Bal. (11/30) 261,000 End. Bal. (11/30) Wages Payable Sales Revenue Beg. Bal. (11/1) Beg. Bal. (11/1) 723,600 Direct labor End. Bal. (11/30) 723,600