Please show all work

4 Exercise 4.2 (Know how to write-off under or over-applied overheads.) 1. Overhead variance = $470,000 - $500,000 = $30,000 overapplied Overhead Control ......... 30,000 Cost of Goods Sold 30,000 2. Proration: (0.40 * $30,000; 0.2 * $30,000; 0.4 * $30,000) Overhead Control...... 30,000 Cost of Goods Sold ........... Work-in-Process Inventory. Finished Goods Inventory 12,000 6,000 12,000 Prorated Unadjusted Overapplied Adjusted Balance Overhead Balance Work-in-Process Inventory................ $100,000 Finished Goods Inventory. 200,000 Cost of Goods Sold........ 200,000 $ 6,000 12,000 12,000 $ 94,000 188,000 188,000 3. 30,000 30,000 Cost of Goods Sold...... Overhead Control ..... Cost of Goods Sold........ Work-in-Process Inventory Finished Goods Inventory 12,000 6,000 12,000 Overhead Control 20