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Requirements:

Requirements 1 and 2 need answers

Pro Whiz manufactures premium food processors. The following are some manufacturing overhead data for Pro Whiz for the year ended December 31, 2017: (Click the icon to view the data.) Read the requirements Data Table Actual Flexible Results Budget 954 Static Budget Allocated Amount Output units 888 Machine-hours Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs Fixed MOH costs per machine-hour 1,526 1,908 1.776 1.60 2.00 $ 71,722 $ 83,952 $ 78,144 $ 33,952 S 44.00 $ 350,205 $ 344,544 $ 376,300 S 194.00 Requirements 1. Prepare journal entries for variable and fixed manufacturing overhead (you will need to calculate the various variances to accomplish this). 2. Overhead variances are written off to the Cost of Goods Sold (COGS) account at the end of the fiscal year. Show how COGS is adjusted through journal entries