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 Manufacturing Overhead Work in Process Finished Goods 414,720 Bal 6,280 () 774,000 Bal 34,000 (d) 672,000 774,000 497,664 (b) 316,000 93,000 414,720 56,000 Bal. 82,944 Bal. 136,000 Bal Cost of Goods Sold 672,000 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: Work in Process, ending Finished Goods, ending Cost of Goods Sold $ 26,880 65,280 322,560 $414,720 Overhead applied For example, of the $56,000 ending balance in work in process, $26,880 was overhead that had been applied during the year