Question
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate $ 6.00 per direct-labor hour Standard quantity of direct labor 2 hours
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate $ 6.00 per direct-labor hour Standard quantity of direct labor 2 hours per unit of output Budgeted fixed overhead $ 144,000 Budgeted output 24,000 units Actual results for April are as follows: Actual output 17,000 units Actual variable overhead $ 300,000 Actual fixed overhead $ 141,000 Actual direct labor 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.
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