Edney Company employs a standard cost system for product costing. The per-unit standard cost of its product is:

Raw materials	$ 14.00
Direct labor (2 direct labor hours $8.00 per hour)	16.00
Manufacturing overhead (2 direct labor hours $11.40 per hour)	22.80
Total standard cost per unit	$ 52.80

The manufacturing overhead rate is based on a normal capacity level of 600,000 direct labor hours. (Normal capacity is defined as the level of capacity needed to satisfy average customer demand over a period of two to four years. Operationally, this level of capacity would take into consideration sales trends and both seasonal and cyclical factors affecting demand.) The firm has the following annual manufacturing overhead budget:

Variable	$ 3,720,000
Fixed	3,120,000
	$ 6,840,000

Edney incurred $433,750 in direct labor cost for 53,700 direct labor hours to manufacture 26,000 units in November. Other costs incurred in November include $272,000 for fixed manufacturing overhead and $324,000 for variable manufacturing overhead.

Prepare the following four journal entries: (a) to record actual variable overhead costs, (b) to record actual fixed overhead costs, (c) to record standard overhead costs applied to production, and (d) to record all four overhead cost variances. The company uses a single account, Factory Overhead, to record all overhead costs. Assume that the actual variable manufacturing overhead consists of utilities payable of $166,000, indirect materials of $104,000 (all materials, direct and indirect, are recorded in a single account, Materials Inventory), and $54,000 depreciation on factory equipment (determined under the units-of-production method). Assume that the fixed manufacturing overhead consists of accrued (i.e, unpaid) salaries of $62,000 and factory depreciation of $210,000. All unpaid salaries should be recorded in a single account, Accrued Payroll. List of General Journal Entries Title:No journal entry required;Accumulated depreciation Factory;Cost of goods sold;Factory overhead;Finished goods inventory;Fixed overhead spending variance;Production volume variance;Salaries payable;Total flexible budget variance;Utilities payable;Variable overhead efficiency variance;Variable overhead spending variance;Work in process inventory.

Is this right for a, b, c, d. ?

a. Variable overhead efficiency variance (debit) $324,000

Utilities payable (credit) $166,000

Materials inventory (credit) $104,000

Accumulated depreciation factory (credit) $54,000

b. Factory overhead (debit) $272,000

Accrued payroll (credit) $62,000

Accumulated depreciation factory (credit) $210,000

C. Work in process inventory (credit) $601,640

Factory overhead (debit) $601,640

D. Fixed overhead spending variance (credit) $12,000

Variable overhead spending variance (credit) $10,540

Fixed overhead spending variance (debit) $10,400

Variable overhead spending variance (debit) $8,914

Factory overhead (debit) $3,226