FINANCIAL ACCOUNTING
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Oo.23.
Subject:- Account
![Required information
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
Alvarez Company for the current period shows a $30,000 favorable volume variance and a $61,200 unfavorable
controllable variance. Standard overhead applied f the period is $222,000.
QS 23-18A (Algo) Preparing overhead entries LO P6
Alvarez records standard costs in its accounts. Prepare the journal entry to charge overhead costs to the Work in Process Inventory
account and to record any variances.
View transaction list
Journal entry worksheet
< A
Record overhead applied to production and overhead variances.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
>](https://content.bartleby.com/qna-images/question/5a79f5fd-2bdd-484b-9c0d-a83d48b55247/edd0ca18-7b7d-4f83-8d3e-1d4115832284/mepsqx_processed.jpeg)
Transcribed Image Text:Required information
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
Alvarez Company for the current period shows a $30,000 favorable volume variance and a $61,200 unfavorable
controllable variance. Standard overhead applied f the period is $222,000.
QS 23-18A (Algo) Preparing overhead entries LO P6
Alvarez records standard costs in its accounts. Prepare the journal entry to charge overhead costs to the Work in Process Inventory
account and to record any variances.
View transaction list
Journal entry worksheet
< A
Record overhead applied to production and overhead variances.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
>
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