Data table Output units 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 Actual Flexible Results Budget Static Allocated Budget Amount 960 915 1,632 1,920 1,830 1.70 2.00 $ 71,808 $ 80,640 $ 76,860 $ 80,640 $ 42.00 $ 360,672 $ 351,360 $ 368,640 $ 192.00 Print Done X Cooking Whiz manufactures premium food processors. The following are some manufacturing overhead data for Cooking Whiz for the year ended December 31, 2017 Click the icon to view the data) Read the requirements Requirement 1. Prepare journal entries for variable and fixed manufacturing overhead (you will need to calculate the various variances to accomplish this) Begin by calculating the following amounts for the variable overhead that will be used to calculate the various variances Variable MOH Actual Costs Incurred Actual Input x Budgeted Rate Flexible Budget Allocated Overhead Now complete the table below for the fixed manufacturing overhead that will be used to calculate the various variances Same Budgeted Fixed MOH Actual Costs Incurred Lump Sum Regardless of Output Level Flexible Budget Allocated Overhead Now complete the 4-variance analysis using the amounts you calculated above. (If no variance exists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N)3 Production-Volume 4-Variance Analysis Spending Variance Variable MOH Efficiency Variance Fixed MOH Variance Prepare journal entries for variable and fixed manufacturing overhead. (Record debits first, then credes. Exclude explanations from any journal entries.) Record the actual variable manufacturing overhead incurred. Journal Entry Record the actual variable manufacturing overhead incurred. Date Journal Entry Accounts Debit Credit Record the variable manufacturing overhead allocated. Date Journal Entry Accounts Debit Credit Record the variable manufacturing overhead variances for the period. Date Journal Entry Accounts Debit Credit Journal Entry Date Accounts Debit Credit Record the actual fixed overhead costs incurred. Date Journal Entry Accounts Debit Credit Record the fixed overhead costs allocated. Date Journal Entry Accounts Debit Credit Fine Foon to view the data; Read the requirements Record the fixed overhead variances for the period. Date Journal Entry Accounts Debit Credit Requirement 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. (Record debits first, then ca Journal Entry Date Accounts Debit Credit