Vermont Company uses continuous processing to produce stuffed bears and FIFO process costing to account for its production costs It uses FIFO because costs are quite unstable due to the volatile price of fine materials it uses in production. The bears are processed through one department Overhead is applied on the basis of direct labor costs, and the application rate has not changed over the period covered by the problem. The Work in Process Inventory account showed the following balances at the start of the current period. Direct materials Direct labor Overhead applied $151,000 360,000 432,600 These costs were related to 72.000 units that were in process at the start of the period During the period, 80,000 units were transferred to finished goods inventory of the units finished during this period, 80 percent were sold. After units have been transferred to finished goods inventory, no distinction is made between the costs to complete beginning work-in-process inventory and the costs of goods started and completed in work in process this period. The equivalent units for materials this period were 90.000 (using FIFO). Of these, 18,000 were equivalent units with respect to materials in the ending work-in-process inventory Materals costs incurred during the period totaled $330,400 Conversion costs of $1,650,000 were charged this period for 82,500 equivalent units using FIFO) The ending inventory consisted of 32.000 equivalent units of conversion costs. The actual manufacturing overhead for the period was $860,000 Required: Prepare T-accounts to show the flow of costs in the system Any difference between actual and applied overhead for the period should be debited of credited to Cost of Goods Sold (Do not round cost per unit calculations and round other intermediate calculations to the nearest whole dollar.) Work in Process Fished Goods Begal Beg bal Current work Transferred out From current work Eed bol End bal Cost of Goods Sold Beobal End bal