please use explanations.

Overhead Variances and Their Disposal Warner Company has the following data for the past year: Actual overhead $295,500 Applied overhead: Work-in-process inventory $64,000 Finished goods inventory 128,000 Cost of goods sold 128,000 Total $320,000 Warner uses the overhead control account to accumulate both actual and applied overhead. Required: 1. Calculate the overhead variance for the year. $ 24,500 Overapplied Feedback Check My Work Correct Provide the appropriate adjusting journal entry to dose the overhead Variance to cost of Goods Sold Overhead Control 24,500 Cost of Goods Sold 24.500 Tal| Che Woods Action Applied OH Over/Underapplied. If variance is not material, it is doned out to cost of goods sold 2. Assume the variance calculated material Altar prorating close the variances to the appropriate accounts an amount box does not require an entry, leave it bank Overhead.Control 24,500 Work in Process Inventory Finished Goods Inventory Cast of Goods Sold Freda Check My W Partially corred Unadjusted Balance Prorated Overapplied Overhead Adjusted Balance Work in Process Inventory 564,000 Finished Goods Inventory $128.000 Cost of Goods Sold $128,000 Fuck Chew Wor ir variance is material, it is protated among Work in Process, Finished Goods, and cost of Goods Sold 3. What if the variance of the opposition calculated in Requirement 1 Provide the appropriate adjusting journal entries for curements 1 and 2. For a compound transaction, if an amount box does not require an entry, leave it blank Variance imesateral cost of Goods Sold Overhead Control Variance material Work in Process Inventory Finished Goods Inventory . 1 llll Cost of Goods Sold Overhead Control