The information below has been taken from the cost records of T Co. for the past year: Direct materials used in production $326 Direct labor 225 OH allocated at 40% ofDL$ 125 826 1000 Actual OH Cost of goods available for sale Sales revenue Selling & administrative expenses Tax rate 10% Inventories: Beginning $75 Ending Direct materials Work in process Finished goods 85 30 110 80 Prepare a statement of cost of goods manufactured & sold for T Co. Prepare the closing entry for OH using COGS Prepare the Income Statement. Prepare the closing entry for OH using Proration (show computations