TheGrangerCompany uses a standard costing system. During 2021, the company incurred actual overhead of $571,200. The standard rate for applying overhead is $4.11per unit, and121,500units were produced in 2021. One-third of the total overhead variance is attributed to the volume variance, and the remainder is attributed to the controllable overhead variance. Prepare the journal entries to record overhead incurred (you should credit "various accounts") and the overhead variances.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Account titles and explanation: Debit Credit

1.

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(to record actual overhead Incurred) Debit Credit

2.

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(To record Overhead Applied) Debit Credit

3.

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• List of accounts:
• Accounts Payable
• Accounts Receivable
• Controllable Overhead Variance
• Cost of Goods Sold
• Finished Goods Inventory
• Labor Efficiency Variance
• Labor Rate Variance
• Material Price Variance
• Material Quantity Variance
• Manufacturing Overhead
• Various Accounts
• Overhead Volume Variance
• Raw Materials Inventory
• Wages Payable
• Work in Process Inventory