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 $57,000 ending balance in work in process, $27,360 was overhead that had been applied during the year. Required: 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary joumal entry. 3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process. Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry. Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead Goods Sold. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for the month. Required: Prepare a schedule of cost of goods manufactured for the month 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. 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 $57,000 ending balance in work in process, $27,360 was overhead that had been applied during the year. Required: 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary joumal entry. 3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process. Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry. Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead Goods Sold. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for the month. Required: Prepare a schedule of cost of goods manufactured for the month 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold