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i need help with the journal entries and finding the Variable MOH & Fixed MOH. !Please do not copy an answer from another question, this
i need help with the journal entries and finding the Variable MOH & Fixed MOH. !Please do not copy an answer from another question, this is vital to my homework! Requirements 1. Prepare journal entries for variable and fixed manufacturing overhead (you will need to calculate the various variances to accomplish this). 2. Overhead variances are written off to the Cost of Goods Sold (COGS) account at the end of the fiscal year. Show how COGS is adjusted through Joumal entries Kitchen Whiz manufactures premium food processors. The following are some manufacturing overhead (MOH) data for Kitchen Whiz for the year ended December 31, 2020: (Click the icon to view the data) Actual Results Flexible Budget Static Allocated Budget Amount 600 644 Output units Machine-hours 1,803 1,932 1,800 2.80 3.00 Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs $ 72,120 $ 73,416 $ 68,400 $ 73,416 $ 38.00 $ 350,215 $ 347,400 $ 376,400 $ 193.00 Fixed MOH costs per machine-hour Accounts Payable Control and Other Accounts Fixed Manufacturing Overhead Allocated Fixed Manufacturing Overhead Control Fixed Manufacturing Overhead Efficiency Variance Fixed Manufacturing Overhead Production-Volume Variance Fixed Manufacturing Overhead Spending Variance Variable Manufacturing Overhead Allocated Variable Manufacturing Overhead Control Variable Manufacturina Overhead Efficiency Variance are anysis using the amounts you calculated above. (If no variance exists leave the dollar va Production-Volume 4-Variance Analysis Spending Variance Efficiency Variance Variance Variable MOH Fixed MOH Prepare journal entries for variable and fixed manufacturing overhead. (Record debits first, then credits. Exclude explana Record the actual variable manufacturing overhead incurred. Joumal Entry Accounts Debit Date Credit Record the variable manufacturing overhead allocated Joumal Entry Date Accounts Debit Credit Record the variable manufacturing overhead variances for the period. Journal Entry Date Accounts Debit Credit Record the actual fixed overhead costs incurred. Journal Entry Date Accounts Debit Credit Record the fixed overhead costs allocated Journal Entry The sculliad overhead costs incurred. Journal Entry Date Accounts Debit Credit Record the fixed overhead costs allocated Journal Entry Date Accounts Debit Credit Record the fixed overhead variances for the period. Date Journal Entry Accounts Debit Credit Requirement 2 Overhead variances are written off to the Cost of Goods Sold (COGS) account at the end of the fiscal year. She Journal Entry Date Accounts Debit Credit
!Please do not copy an answer from another question, this is vital to my homework!
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