Answer:
1. The Journal Entry and their narrations is shown below:-
2. Preparation of Manufacturing Overhead and Work in Process is given below:-
Explanation:
a. Raw materials inventory Dr, $210,000  
     To Accounts payable $210,000
(Being purchase of raw material is recorded)
b. Work in process inventory Dr, $151,200  
Manufacturing overhead Dr, $37,800  
             To Raw materials inventory $189,000
(Being material used is recorded)
c. Work in process inventory Dr, $50,000  
Manufacturing overhead Dr, $21,000  
      To salaries and wages payable $71,000
(Being factory labor assigned is recorded)
d. Manufacturing overhead Dr, $105,000  
      To Accumulated depreciation $105,000
(Being depreciation of factory equipment is recorded)
e. Manufacturing overhead Dr, $130,000  
         To Accounts payable                   $130,000
(Being accrued of manufacturing overhead is recorded)
f. Work in process inventory Dr, $457,800
         To Manufacturing overhead $457,800  
($76,300 × $6)
(Being manufacturing overhead applied is recorded)
g. Finished goods inventory Dr, $512,000  
             To Work in process inventory $512,000
(Being completion of production is recorded)
h. Cost of goods sold Dr, $448,000  
           To Finished goods inventory $448,000
(Being cost of goods sold is recorded)
i. Accounts receivable Dr, $591,360
            To Sales $591,360 
$448,000 + (32% × $448,000)
(Being sale of product is recorded)
2.                    Manufacturing overhead
b.         $37,800             f.      $457,800
c.         $21,000
d.         $105,000
e.          $130,000
Ending balance                     $164,000
                   Work in process inventory
Beginning balance      $35,000     g. $512,000
b.                                   $151,200
c.                                  $50,000
f.                                   $457,800
Ending balance           $182,000