Answer Happy

Crystal Glassware Company has the following standards and flexible-budget data Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor $ 96,000 19,000 units $259,000 5.00 per direct-labor hour $100,000 2 hours per unit of output 25,000 units 50,000 hours Required: Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) • Record the incurrence of actual variable overhead and actual fixed overhead. • Add variable and fixed overhead to Work-in-Process Inventory. • Close underapplied or overapplied overhead into Cost of Goods Sold.
Journal entry worksheet < 1 2 Record the incurrence of actual variable overhead and actual fixed overhead. Transaction 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
Journal entry worksheet < 1 2 Record the applied production overhead. Transaction 2 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
Journal entry worksheet 1 2 Record the entry to close underapplied or overapplied overhead into Cost of Goods Sold. 3 Note: Enter debits before credits. Transaction 3 Record entry General Journal Clear entry Debit Credit View general journal