The following T-accounts represent November activity. Materials Inventory EB (11/30) 56,700 Work-In-Process Inventory BB (11/1) 31,800 Dir. Materials 85,400 Cost of Goods Sold Pinished Goods Inventory EB (11/30) 101,000 Manufacturing Overhead Control Erol Mages Payable Applied Manufacturing Overhead 264,000 Sales Revenue 767,600 Additional Data Materials of $113,100 were purchased during the month, and the balance in the Materials Inventory account increased by $11,100. Overhead is applied at the rate of 150 percent of direct labor cost. Sales are billed at 190 percent of cost of goods sold before the over- or underapplied overhead is prorated. The balance in the Finished Goods Inventory account decreased by $29,500 during the month before any proration of under-or overapplied overhead. Total credits to the Wages Payable account amounted to $204,000 for direct and indirect labor. Factory depreciation totaled $42,020. Overhead was underapplied by $24,800. Overhead other than indirect labor, Indirect materials, and depreciation was 5202,180 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. 15 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, Required: Complete the T-accounts. Not all amount fields to be populated have accompanying descriptions. Materials Inventory Beg. Bal. (11/1) Purchases Work-in-Process Inventory 31,800 85,400 | Direct materials Indirect materials Beg. Bal. (11/1) Direct materials Direct labor Overhead applied End. Bal. (11/30) Bal. 117,200 End. Bal. (11/30) 117,200 Finished Goods Inventory Cost of Goods Sold Beg. Bal. (11/1) Beg. Bal. (11/1) 101,000 End. Bal. (11/30) 101,000 End. Bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead 264,000 Beg. Bal. (11/1) Beg. Bal. (11/1) Indirect materials End. Bal. (11/30) 264,000 Prey 2 of 2 !! Next > Beg. Bal. (11/1) Beg. Bal. (11/1) Bal 101,000 End. Bal. (11/30) 101,000 End. Bal. (11/30) Manufacturing Overhead Control Applied Manufacturing Overhead 264.000 Beg. Bal. (11/1) Beg. Bal. (11/1) Indirect materials (11/30 204.000 End. Bal. (11/30) Sales Revenue Wages Payable Beg. Bal. (11/1) Beg. Bal. (11/1) 767,600 Direct labor End. Bal. (11/30) 707,600 End. Bal. (11/30)