Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 18.00 per direct-labor hour 2 hours per unit of output $300,000 25,000 units Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor 20,000 units $949,000 $291,000 50,000 hours Required: Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Record the incurrence of actual variable overhead and actual fixed overhead. Add variable and fixed overhead to Work-in-Process Inventory. Close underapplied or overapplied overhead into Cost of Goods Sold. Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 1 1,240,000 Production overhead Various accounts 1,240,000 2 2 1,200,000 X Work-in-process inventory Production overhead OOOOOO 1,200,000 X 3 3 40,000 X Cost of goods sold Production overhead 40,000 X