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The following informetion is taken from the accounts of Lath Compary. The entries in the Taccounts are summaries of the transactions that effecled those accounts during the year The ovesheod that had been appied 10 production during the yeor is dstributed among Wark in Process, Finished Goods, and Cost of Goods Sold as of the eod of the year as folowi. For example, of the 544,000 ending balance in work in proce1s, 521,20 was overbesd thet had been appled during the year: Required: Mequired: 2. Aswame that the underappled of overappled owerhead is ciosed to Coet or Goods Sold Piepare the cecessaryjoumat entyy 2. Assume that the underapplied of crerapplesf overhead is closed propertionally to Work in Process, Finished Goods, and Cost of Goods Sold Prepare the necestery pumal ensyy Complete this question by eotering yoar answers in the tabs below. Identify reavone for eckries (a) throoph (d). Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry Assume that the underappled or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of ods Sold. Prepare the necessary journal entry. Complete this question by entering your answers in the tabs below. Assume that the underapplied or overapplied overhead ts dosed to Cost of Goods Sold. Prepare the necessary journal entry. (if no entry is required for a transacionvevent, select "No Journal enter required" in the first account field.) Journal entry worksheet Record the adjustment of manufacturing overhead account to co55. Bieter -inier debits befiore gedit. For example. of the $44,000 eading baiance in work in process, $21,120 was overhead that had been applied during the year. Required: 1. identify reosons for entries (o) through (d) 2 Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry 3 Assume that the underapplied or overepplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of: Goods sold Prepore the necessory journal entry Complete this question by enterino your answers in the tabs below. Asume that the underapplicd or overapelied cverhead is dosed proportionsily to Work in Process, Finished Goods, and Cost of Goods acourt fied bo not, tound intermediate calculotions. Journal entry worksheet Fecord the allocation of any balance in the manutacturing overhead account to other acsounts. Nole INer debhe belver veita