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) 420,000 (b) 460,000 Bal. 40,000 Work in Progress Bal. (c) 810,000 115,000 220,000 125,000 460,000 (b) Bal. 110,000 Finished Goods Bal. (c) (d) 865,000 175,000 810,000 Bal. 120,000 Cost of Goods Sold (d) 865,000 The overhead applied to production during the year is distributed among the ending balances in the accounts as follows: Work in Process, ending Finished Goods, ending Cost of Goods Sold $ 46,000 69,000 345,000 Overhead applied $460,000 For example, of the $110,000 ending balance in Work in Process, $46,000 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 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 a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > 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 1