Refer to the information in QS 23-8. Alvarez records standard costs in its accounts. Prepare the journal entry to charge overhead costs to the Goods in Process Inventory account and to record any variances.
in QS 23-8, Alvarez Company’s output for the current period yields a $ 20,000 favorable overhead volume variance and a $ 60,400 unfavorable overhead controllable variance. Standard overhead charged to production for the period is $ 225,000. What is the actual total overhead cost incurred for the period?