$15-16$ Patel and Sons, Inc., uses a standard cost system to apply factory overhead costs to units produced. Practical capacity for the plant is defined as $50,000$ machine hours

per year, which represents $25,000$ units of output. Annual budgeted fixed overhead costs are $$250,000,$ and the budgeted variable overhead cost is $$4\mathrm{.}00$ per unit. Factory

overhead costs are applied on the basis of standard machine hours allowed for the units produced. Budgeted and actual output for the year was $20,000$ units, which took $41,000$

machine hours. Actual fixed overhead costs for the year amounted to $

$245,000,$ while the actual variable overhead cost per unit was $$3\mathrm{.}90.$ What was $($a$)$ the fixed overhead

spending variance for the year, and $($b$)$ the overhead production volume variance for the year? Round each answer to nearest whole dollar, and indicate whether each variance

was favorable $(F)$ or unfavorable $(U).$

Practical capacity $($in machine hours$)=$

Practical capacity $($in units of output$)=$

Annual budgeted fixed overhead costs $=$

Budgeted variable overhead cost per unit $=$

Budgeted output for the year $($in units$)=$

Actual output for the year $($in units$)=$

Actual number of machine hours worked for the year $=$

Actual fixed overhead costs for the year $=$

Actual variable overhead cost per unit

$15-19$ Refer to your answer to Brief Exercises $15-16$ and $15-17$ and to the journal entries made in conjunction with Brief Exercise $15-18.$ Given this information, provide the appropriate journal entry to $($a$)$ record the overhead variances for the period $($thereby closing out the balance in the Factory Overhead account$),$ and $($b$)$ close the variance accounts to Cost of Goods Sold $($CSG$)$ at the end of the period.