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value: 6.25 points Alvarez Company's output for the current period yields a $20,000 favorable overhead volume variance and a $60,400 unfavorable overhead controllable variance. Standard overhead applied to production for the period is $225,000. Alvarez records standard costs in its accounts. Prepare the journal entry to charge overhead costs to the Work in Process Inventory account and to record any variances. View transaction list Journal entry worksheet Record overhead applied to production and overhead variances. Note: Enter debits before credits. Transaction Credit General Journal Controllable variance Work in process inventory Debit 225,000 Volume variance Record entry Clear entry View general journal