Overhead Variances and Their Disposal Wamer Company has the following data for the past year: Wamer uses the overhead control account to accumulate both actual and applied overhead. Required: 1. Calculate the overhead variance for the year. Provide the appropriate adjusting Journal entry to dose the overhead variance to Cost of Goods Sold. 2. Assume the variance calculated is material. After prorating, dose the variances to the appropriate accounts, If an amount box does not require an entry, leave it blank. Aeeume the variance calculated is material. After prorating, provide the final ending balances of these accounts. 3. What if the variance is of the opposite sign calculated in Requirement 17 Provide the appropriate adjusting journal entries for fequirements 1 and 2. For a comoound transaction, if an amount box does not require an entry, leave it blank. 3 more Checa Ay Work uses remaining. Print litem Assume the variance calculated is material. After prorating, provide the final ending balances of these accounts. Work-in-Process Inventory Cost of Goods Sold 3. What if the variance is of the opposite sign calculated in Requirement 17 provide the appropriate adjusting joumal entries for Requirements 1 and 2 . For a compound transaction, if an amount box does not require an entry, leave it blank: Variance immaterial Variance material: Previous Next