Problem 8 The following account balances were taken from the general ledger accounts of Lee Corporation. Materials l80,000 80,000 Work in process 85,000 110,000 Finished goods 120,000 80,000 Factor},F overhead control 330,000 Applied facton overhead (applied at a rate of 80% of DL} 320,000 Cost of goods sold 850,000 Required: 1. Journal entries to record the transactions entered in the accounts for the year 2. lCost of goods sold statement for the year 3. Journal entry to close the FDH control accolmt aud Applied FDH to cost of goods sold