Questions $4$ through $17$ are based on the following information:

Jax Inc. produces paddleboards that are popular with beach rental stores. Jax uses standard costing, and in $2023$ they estimated that they would make $4,200$ paddleboards. Jax estimated the following standard costs for materials and labor for each paddleboard.

$\backslash$table$[[,$Standard Quantity per Unit,Standard Price$],[$Direct materials,$32$ square feet,$$1\mathrm{.}60$ per square foot$],[$Direct labor,$2$ hours per unit,$$17\mathrm{.}00$ per hour$]]$

During $2023$ Jax actually produced and sold $4,100$ paddleboards. During $2023$ Jax purchased and used $137,000$ square feet of material. The average cost of the material was $$1\mathrm{.}55$ per square foot. $7,900$ hours of direct labor were used during the year with an average rate of $$18\mathrm{.}25$ per hour.

Jax allocates manufacturing overhead to production based upon feet of direct materials used. Jax estimated that variable manufacturing overhead costs would be $$268,800$ and fixed manufacturing overhead costs would be $$470,400.$ Actual VMOH costs incurred were $$261,300$ and actual FMOH costs incurred were $$473,000.$

$5\mathrm{.}27$ pts

Independent of your previous answers, assume that the VMOH spending variance was favorable and the VMOH efficiency variance was unfavorable. What is the journal entry to close out the variable overhead accounts and recognize the variances?

VMOH Control

VMOH Spending variance

Debit

Credit

VMOH Efficiency variance

XXXX

VMOH Allocated

$xxxx,$

$xxxx,$

$,xxxx$

Debit

Credit

VMOH Allocated

XXXX

VMOH Efficiency variance

XXXX

VMOH Spending variance

XXXX

VMOH Control

$xxxx$

Debit

Credit

VMOH Allocated

XXXX

VMOH Spending variance

XXXX

VMOH Efficiency variance

$xxxx$

VMOH Control

$xxxx$

Debit

Credit