Question

Goldman Company reported the following manufacturing overhead variances. (Click the icon to view the overhead variances.) 24. Record the journal entry to adjust Manufacturing Overhead. 25. Was Manufacturing Overhead overallocated or underallocated? 24. Record the journal entry to adjust Manufacturing Overhead. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Accounts and Explanation Debit Credit Date i Data Table $ Variable overhead cost variance Variable overhead efficiency variance 430 F 522 U 682 U 25. Was Manufacturing Overhead overallocated or underallocated? Fixed overhead cost variance Fixed overhead volume variance 635 F Manufacturing Overhead was adjusted with a which indicates overhead was Print Done credit debit Choose from any list or enter any number in the input fields and then continue to the next question.

Answer 1

24	Date	Accounts and Explanation	Debit	Credit
		Variable Overhead Efficiency Variance	$522
		Fixed Overhead Cost Variance	$682
		Variable Overhead Cost Variance		$430
		Fixed Overhead Volume Variance		$635
		Manufacturing Overhead		$139
		(To adjust Manufacturing Overhead)
25	Manufacturing Overhead was adjusted with a credit balance, which indicates overhead was underallocated