Problem #3 (10 marks) 10.0 points possible (graded, results hidden) Jacobs Company manufactures refrigerators. The company uses a budgeted indirect-cost rate for its manufacturing operations and during 2005 allocated $1102000 to work-in-process inventory. Actual overhead incurred was $1210000. Ending balances in the following accounts are: --- Work in process .$103000 --- Finished goods... $732000 -- Cost of goods sold ... $4340000 Assume that the overheads in ending balances are one-fourth, two-fifth and one-half in Work-in-process, finished goods and cost of goods sold respectively. What would be the balances of these accounts if under/over-allocation of overheads are prorated using overheads in ending balances? (Use the table below to answer) [2 marks] The balance of Work in process in two decimal places) is (b) [2 marks] The balance of Finished goods in two decimal places) is (c) [2 marks] The balance of Cost of goods sold (in two decimal places) is (d) [4 marks] Briefly explain the other two methods of adjusting under/over allocation of overheads and clarify when it's wiser to use those methods instead of the one used in this problem (answer on the Rough-work Box provided below)