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$)448,000($b$)495,000$

Bal. $47,000$

Work in Progress

Bal. $122,000($c$)845,000$

$227,000$

$132,000$

$($b$)495,000$

Bal. $131,000$

Finished Goods

Bal. $185,500($d$)896,500$

$($c$)845,000$

Bal. $134,000$

Cost of Goods Sold

$($d$)896,500$

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

Work in Process, ending $ $49,500$

Finished Goods, ending $74,250$

Cost of Goods Sold $371,250$

Overhead applied $ $495,000$

For example, of the $$131,000$ ending balance in Work in Process, $$49,500$ was overhead applied during the year.

Required:

$1.$ Identify the reasons for entries $($a$)$ through $($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.$)$

Pr