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Create all necessary journal entries to record all standard cost variances in Problem 3 above. Show the journal entries for manufacturing overhead using a 4

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Create all necessary journal entries to record all standard cost variances in Problem 3 above. Show the journal entries for manufacturing overhead using a 4 variance 3 variance and 2 variance approaches. Delete any Accounts or Amounts automatically displayed in the template that is not needed. For example, the Three Variance Approach shows Spending Variance as both a debit and credit account entry; delete the account not needed. The account values will automatically fill for most items from the Problem 3 results. Make sure you complete the journal entries for the three and two- tiered approach Journal Entries Account - Debit Account - Credit Debit Amount Credit Amount R/M Inventory Accounts Payable WIP R/M Inventory WIP Payroll Payable 16 Four Variance Approach 17 WIP 18 19 20 VOH Control 21 22 WIP 23 24 25 FOH Control 26 27 Three Variance Approach 28 WIP 29 30 31 32 MOH 33 34 Two Variance Approach 35 WIP 36 + 37 38 MOH 39 Create all necessary journal entries to record all standard cost variances in Problem 3 above. Show the journal entries for manufacturing overhead using a 4 variance 3 variance and 2 variance approaches. Delete any Accounts or Amounts automatically displayed in the template that is not needed. For example, the Three Variance Approach shows Spending Variance as both a debit and credit account entry; delete the account not needed. The account values will automatically fill for most items from the Problem 3 results. Make sure you complete the journal entries for the three and two- tiered approach Journal Entries Account - Debit Account - Credit Debit Amount Credit Amount R/M Inventory Accounts Payable WIP R/M Inventory WIP Payroll Payable 16 Four Variance Approach 17 WIP 18 19 20 VOH Control 21 22 WIP 23 24 25 FOH Control 26 27 Three Variance Approach 28 WIP 29 30 31 32 MOH 33 34 Two Variance Approach 35 WIP 36 + 37 38 MOH 39

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