3. Prepare the journal entries that reflect the following: a. Assignment of overhead to production b. Recognition of the incurrence of actual overhead c. Recognition of overhead variances d. Closing out overhead variances; assuming they are not material Uvernead Variances, Four-Variance Analysis, Journal Entries Janson, Inc, uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a year is defined as 100,000 units requiring 20,000 standard direct labor hours. Budgeted overhead for the year is $76,000, of which $30,000 is fixed overthead. During the yeac, 96,000 units were produced using 19,000 direct labor hours. Actual annual overhead costs totaled $80,000, of which $29,600 is fored overhead. Required: 1. Calcutate the foxed overhead spending and volume variances. 2. Calculate the variable overhead spending and efficiency variances