The following T-accounts represent November activity. EB (11/30) Materials Inventory 55,600 Finished Goods Inventory EB (11/30) 100,000 | Manufacturing Overhead Control Work-In-Process Inventory BB (11/1) Dir.Materials 31,700 85,800 Cost of Goods Sold Applied Manufacturing Overhead Wages Payable 262,500 Sales Revenue 688,500 Additional Data Materials of $112,500 were purchased during the month, and the balance in the Materials Inventory account increased by $11,300. Overhead is applied at the rate of 150 percent of direct labor cost. Sales are billed at 170 percent of cost of goods sold before the over- or underapplied overhead is prorated. The balance in the Finished Goods Inventory account decreased by $27,800 during the month before any proration of under- or overapplied overhead. Total credits to the Wages Payable account amounted to $203,000 for direct and indirect labor. Factory depreciation totaled $46,770. Overhead was underapplied by $25,440. Overhead other than indirect labor, indirect materials, and depreciation was $197,770, which required payment in cash. Underapplied overhead is to be allocated. The company has decided to allocate 30 percent of underapplied overhead to Work-in-Process Inventory, 20 percent to Finished Goods Inventory, and the balance to Cost of Goods Sold. Balances shown in T-accounts are before any allocation. Required: Complete the T-accounts. Not all amount fields to be populated have accompanying descriptions. Beg. Bal. (11/1) Purchases Materials Inventory Direct materials Indirect materials Beg. Bal. (11/1) Direct materials Direct labor Overhead applied Bal 55,600 End. Bal. (11/30) Work-in-Process Inventory 31,700 85,800 < Prev 3 of 4 Next > Check my work