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 for 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 Invent account and to record any variances.
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 for 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 Invent account and to record any variances.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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
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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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