1)Prepare journal entries for VMOH and FMOH(You will need to calculate the various variances to acomplish this)

2)Overhead variance are written off to the Cost of goods sold(COGS) account at the end of the fiscal year. Show how COGS is adjusted through journal entries.

Magic Dice manutactures premium food processors. The following are some manufacturing overhoed data for Magic Dice for the year ended December 31, 2018 Cick the icon to view the date) Required 1. Prepare journal entries for VMOH and FMOH you will need to calculate the various variances to accomplish this) 2. Overhead variances are written off to the Cost of Goods Sold (COS) account at the end of the fiscal your show how COGS is adjusted through oumalis Requirement 1. Prepare purnal entries for VMOH and FMOH (you will need to calculate the various variances to accomplish this) Begin by calculating the following amounts for the variable overhead that will be used to calculate the various variances Actual Costs Actual Input x Data Allocated Incurred Budgeted Rate Flexible Budget Overhead Variable MOH -X Output units Machine hours Machine hours per output Vanat MOH Costs Web MOH costs per machine hour Ford MO Costs Fred MOH Cosi per machine how Actual Flexible Static Amount Results Budget Budget Allocated 960 888 1824 2.330 2654 1.90 3.00 $ 70,000 $ 78,800 $ 71.000 $ 70 000 5 26 67 $ 350,200 $ 348.000 5 376 220 $ 13007 Enter any number in the edit fields and then click Check Answer Print Done 10 Data - Actual Results Flexible Budget Static Amount Budget Allocated Output units 960 888 1,824 2,880 2,664 1.90 3.00 $ 76 608 $ 76,800 $ 71,040 $ Machine-hours Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs Fixed MOH costs per machine-hour 76,800 S 26.67 $ 350,208 $ 348,096 S 376,320 $ 130.67 Print Done Magic Dice manutactures premium food processors. The following are some manufacturing overhoed data for Magic Dice for the year ended December 31, 2018 Cick the icon to view the date) Required 1. Prepare journal entries for VMOH and FMOH you will need to calculate the various variances to accomplish this) 2. Overhead variances are written off to the Cost of Goods Sold (COS) account at the end of the fiscal your show how COGS is adjusted through oumalis Requirement 1. Prepare purnal entries for VMOH and FMOH (you will need to calculate the various variances to accomplish this) Begin by calculating the following amounts for the variable overhead that will be used to calculate the various variances Actual Costs Actual Input x Data Allocated Incurred Budgeted Rate Flexible Budget Overhead Variable MOH -X Output units Machine hours Machine hours per output Vanat MOH Costs Web MOH costs per machine hour Ford MO Costs Fred MOH Cosi per machine how Actual Flexible Static Amount Results Budget Budget Allocated 960 888 1824 2.330 2654 1.90 3.00 $ 70,000 $ 78,800 $ 71.000 $ 70 000 5 26 67 $ 350,200 $ 348.000 5 376 220 $ 13007 Enter any number in the edit fields and then click Check Answer Print Done 10 Data - Actual Results Flexible Budget Static Amount Budget Allocated Output units 960 888 1,824 2,880 2,664 1.90 3.00 $ 76 608 $ 76,800 $ 71,040 $ Machine-hours Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs Fixed MOH costs per machine-hour 76,800 S 26.67 $ 350,208 $ 348,096 S 376,320 $ 130.67 Print Done