Just looking for clarification on whether or not these problems were answered correctly. Would appreciate the help!(:

PROBLEM 1 - RAW MATERIAL, WORK IN PROGRESS & FINISHED GOODS INVENTORY Greydon Corporation has the following beginning inventory balances: Raw Material Inventory = $825,000 Work In Process Inventory = $160,000 Finished Goods Inventory = $940,000 During the period, Greydon purchased $3,100,000 worth of raw materials and placed $3,220,000 worth of raw materials into production. Greyden incurred $2,330,000 in direct labor costs and applied $1,500,000 in overhead during the period. The cost of goods completed during the period was $7,020,000 and the cost of goods sold was $7,160,000. a) What is the ending balance for raw materials inventory? $705,000 825,000 + 3,100,000 3,225,000 - 3,220,000 = 705,000 b) What is the ending balance for work in process inventory? $190,000 160,000 + 3,220,000 + 2,330,000 + 1,500,000 - 7,020,000 = 190,000 c) What is the ending balance for finished goods inventory? $800,000 940,000 + 2,020,000 -- 7,160,000 d) If actual overhead costs incurred during the period were $1,525,000, what journal entry would the company make to account for overapplied or underapplied overhead? Cost of Goods Sold $25,000 Manufacturing Overhead $25,000 1,525,000 -1,500,000 = 25,000