ques 1

The following information is taken from the accounts of Foster Corp. The entrles in the T-accounts are summaries of the transactions that affected those accounts during the year. The overhead applied to production during the year is distributed among the ending balances in the accounts as follows: 2. The company allocates any balance in the Manufacturing Overhead account to the other accounts in proportion to the overhead applied during the year that is in the ending balance in each account. Prepare the necessary journal entry. (If no entry is required for o transoction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the entry allocation of over applied overhead to the other account on the bases of amounts of overhead apply during the year in the ending balance during each account. Note: Enter debits before credies. The overhead applied to production during the year is distributed among the ending balances in the accounts as follows: For example, of the $92,000 ending balance in Work in Process, $34,400 was overhead applied during the year. Required: 1. Identify the reasons for entries (a) through (d)