The following information is taken from the accounts of Lata company The entries in the T-accounts are summaries of the transactions that affected those accounts during the year The overhead that had been applied to production during the year is distributed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows: For example, of the $53,000 encing baknce in work in process, $25,440 was overhead that had been applied during the yeat: Required: 1. Identify reasons fot entries (a) through (d). 2. Assume that the underappied or overapplied ovenhead is closed to Cost of Goods Sold Prepare the necessary joumat entry. 3. Assume that the underapplied or overapplied overhead is closed proportionaly to Work in Process. Finished Goods, and Cost of Goods Sold. Prepare the necessaty joumad entry. Complete this question by entering your answers in the tabs below. Identify reasons for entries (a) through (d). Complete this question by entering your answers in the tabs below. Assume that the underappied or overappiled overhesd is dosed to cost of Goods. Sold. Prepare the neciseacy foumal erticy. (If no entry is requiced for a transactionvevent, select "No joumat entry required" la the frist account field.) Journal entry worksheet Record the adjustment of manufacturing overhead account to coGs. Nese Enter debits betore credits. Al pume that the underappled of overapplled overhead is dosed preportienaty to Work in Procoss, Finkshed Goods, and cost of Good Sold. Prepare the necessary joumal entry. (if no entry is required for a transaction/tvent, colect No jourmal entry coquired in the first account field, Do not round intermed ate cilculationes. Journal entry worksheet Record the aliocation of any batance in the manufacturing overhead account to other accounts. Note inier debitibetore crediti