The following information is taken from the accounts of Latta 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 Goods Sold as of the end of the year as follows: For example, of the $53,000 ending balance in work in process, $25,440 was overhead that had been applied during the year. Required: 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or averapplied overhead is closed to Cost of Goods Sold. Prepare the necessary joumal entry. 3. Assume that the underapplied or overopplied overheod is closied proportionaliy to Work in Process, Finished Goods, and Cost of Goods Sold, Prepare the necessary journal entry. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Identify reasons for entries (a) through (d). issume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary joumal entry. (II no entry 5 required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the adjustment of manufacturing overhead account to coGS. Note: Enter debits before credits: sccount field. Do not round intermediate cakculations.) Journal entry worksheet Record the allocation of any balance in the manufacturing overhead account to other accounts. Note: inter debts before credits