Latta Company provided the following T$-$accounts for this year.

The overhead applied to production is distributed among Work in Process, Finished Goods, and Cost of Goods Sold at the end of the

year as follows:

For example, of the $$56,000$ ending balance in work in process, $$26,880$ was applied overhead.

Required:

Identify reasons for entries $($a$)$ through $($d$).$

Assume underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry.

Assume 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 $1$

Identify reasons for entries $($a$)$ through $($d$).$