The following information is taken from the accounts of Foster Corp. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year.

Manufacturing Overhead

(a)	456,000		(b)	505,000
			Bal.	49,000

Work in Progress

Bal.	124,000		(c)	855,000
	229,000
	134,000
(b)	505,000
Bal.	137,000

Finished Goods

Bal.	188,500		(d)	905,500
(c)	855,000
Bal.	138,000

Cost of Goods Sold

(d)	905,500

The overhead applied to production during the year is distributed among the ending balances in the accounts as follows:

Work in Process, ending	$	50,500
Finished Goods, ending		75,750
Cost of Goods Sold		378,750
Overhead applied	$	505,000

For example, of the $137,000 ending balance in Work in Process, $50,500 was overhead applied during the year.

Required: 1. Identify the reasons for entries (a) through (d). Item (a): Item (b): Item (c): Item (d): 2. The company allocates any balance in the Manufacturing Overhead account to the other accounts in proportion to the averhead applied during the year that is in the ending balance in each account. Prepare the necessary journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 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 credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal