Overhead Variances and Their Disposal Warner Company has the following data for the past year Actual overhead $190,500 144,000 Applied overhead Work-in-process inventory Finished goods Inventory Cost of goods sold 13,000 ,000 Total 220,000 Wamer uses the overhead control account to accumulate both actual and polled red Required 1. Calculate the overhead variance for the year. Provide the appropriate adjuuting Journal entry to close the overhead verance to cost of Good to 2. Anome the variance calculated is material. After prorating, close the variances to the appropriate accounts 1 an out box does not an entry, wave it thank 1 M Pre Over Ova toden co III I VIID Warner Company has the following data for the past year: Actual overhead $198,500 Applied overhead: Work-in-process inventory $44,000 Finished goods inventory 88,000 Cost of goods sold 88,000 Total $220,000 Cequired: Calculate the overhead variance for the year. rovide the appropriate adjusting journal entry to close the overhead variance to Cost of Goods Sold. Assume the variance calculated is material. After prorating, close the variances to the appropriate acc 101 of these Unadjusted Balance Prorated Overapplied Overhead Adjusted Balance Work-in-Process Inventory $44,000 Finished Goods Inventory $88,000 Cost of Goods Sold $88,000 3. What if the variance is of the opposite sign calculated in Requirement 1? Provide the appropriate adjustin an amount box does not require an entry, leave it blank. Variance immaterial Variance material