Watkins Machinery Company uses a normal job costing system. The company has the following partial trial balance information for

March, the last month of its fiscal year:

Materials inventory $(x,$$$11,250$;$Y,$$$7,500$; Indirect materials, $$18,750)$ $$37,500$

Work$-$in$-$process inventory $($this is Job $101)19,200$

Finished goods inventory $($this is Job $100)32,000$

These transactions relate to the month of March:

a$.$ Purchased direct materials and indirect materials with the following summary of receiving reports:

b$.$ Issued direct materials and indirect materials with this summary of requisitions:

c$.$ Factory labor incurred is summarized by these time tickets:

d$.$ Factory utilities, factory depreciation, and factory insurance incurred is summarized as follows:

e$.$ Factory overhead costs were applied to jobs at the predetermined rate of $$15$ per machine hour. Job $101$ incurred $4,500$ machine

hours; Job $102$ used $3,000$ machine hours.

f$.$ Job $101$ was completed; Job $102$ was still in process at the end of March.

g$.$ Job $100$ and Job $101$ were shipped to customers during March. Both jobs had gross margins of $20\%$ based on manufacturing cost.

h$.$ The company closed the overapplied or underapplied overhead to the Cost of Goods Sold account at the end of March.

Required:

Prepare journal entries to record the transactions for the events from parts $($a$)$ through $($g$).$

Compute the ending balance of the Work$-$in$-$process inventory account.

Compute the overhead variance and indicate whether it is overapplied or underapplied.

Close the overhead variance to the Cost of goods sold account.