For example of the $48,000 ending balance in work in process, $23,040 was overhead that had been applied during the year. Required: 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or overapplied overhead is closed to cost of Goods Sold. Prepare the necessa journal entry 3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and cost of Goods Sold. Prepare the necessary journal entry. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 ce Identify reasons for entries (a) through (d) Reason Entry (0) (b)