Good evening, Looking for assistance on the last part of this problem. PLEASE provide a description of the breakdown if possible.

Assume that ErgoFurn prorates under- or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed.

There is an attachment with all of the work completed thus far. This is the very last problem on the page.

ErgoFurn, Inc. manufactures ergonomically designed computer furniture. ErgoFurn uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. Item CC723 Computer caddy CH291 Chair PS812 Printer stand Units 23,00 0 19,00 0 29,00 0 Accumulated Cost $940,000 440,000 280,000 $1,660,000 On November 30, ErgoFurn's Raw Materials Inventory account totaled $698,000, and its Finished Goods Inventory totaled $3,458,400. ErgoFurn applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $4,500,000, and the company planned to use 900,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 842,000 machine hours, total factory overhead amounted to $4,274,500, and Cost of Goods Sold was $4,274,500. ErgoFurn purchased $8,770,250 in raw materials in December and incurred the following costs for jobs in process that month: Job No. CC723 CH291 PS812 DS444 Materials Issued $155,000 $19,800 $228,000 $253,000 Machine Hours 13,000 4,900 23,500 18,000 Direct Labor Hours 14,000 4,000 16,300 17,500 Direct Labor Cost $122,400 $46,200 $223,500 $139,000 The following jobs were completed in December and transferred to the Finished Goods Inventory: Job No. CC723 CH291 DS444 Item Units Computer caddy 23,000 Chair 19,000 Desk 10,000 Assume that ErgoFurn sold 14,000 computer caddies, 11,200 chairs, and 4,500 desks in December. (a) Your answer is correct. ErgoFurn incurred $395,000 in manufacturing overhead in December. Given that expenditure, was manufacturing overhead under- or overapplied for the year? By how much? Overhead $ b y 162,500 Show Solution Show Answer Link to Text Attempts: 1 of 2 used (c) Your answer is correct. Assume that ErgoFurn closes under- or overapplied overhead to the Cost of Goods Sold account. Prepare the journal entry to close the manufacturing overhead account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Cost of Goods So Debit Credit 162,500 Manufacturing Ov 162,500 Solution Problem 4-28 (Part Level Submission) CC723 Beg. Balance Added in December Direct Material Direct Labor Overhead Total Cost Added Total Cost to Date $940,000 155,000 122,400 65,000 342,400 $1,282,400 CH291 $440,00 0 PS812 $280,00 0 DS444 19,800 46,200 24,500 90,500 $530,50 0 228,000 $253,000 223,500 139,000 117,500 90,000 569,000 482,000 $849,00 $482,000 0 Overhead is applied using the following rate: $4,500,000/900,000 MH = $5/MH Applied Overhead for December Job CC723: 13,000 MH x $5/MH = $65,000 Job 4,900 MH x $5/MH = $24,500 CH291: Job PS812: 23,500 MH x $5/MH = $117,500 Job DS444: 18,000 MH x $5/MH = $90,000 Attempts: 1 of 2 used (d) Assume that ErgoFurn prorates under- or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed. (Round answers to the nearest dollar amount, e.g. 5,275 and percentage of total to 1 decimal place, e.g. 52.8%.) Allocation $ Work In Process $ Finished Goods Cost of Goods Sold $ Adjusted Balance $ $ $