Sever Help Save & Exit Submit Carson Inc. has provided the following data for the month of May. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work-in- Process Direct materials $ 6,210 Finished Goods $12,700 Direct labor 3,630 11,700 Manufacturing overhead applied Total 3,344 $13,184 7,524 $31,924 Cost of Goods Sold $112,520 102,840 72,732 $288,092 Total $131,430 118,170 83,600 $333,200 Manufacturing overhead for the month was underapplied by $11,200. The company allocates any underapplied or overapplied overhead among work-in-process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. The journal entry to record the allocation of any underapplied or overapplied overhead for May would include the following: Multiple Choice debit to Finished Goods Inventory of $32,800.