During the year, $900,000$ units were produced using $190,000$ direct labor hours. Actual annual overhead costs totaled $$800,000,$ of which $$294,700$ is fixed overhead.

Required:

Calculate the fixed overhead spending and volume variances.

Fixed Overhead Spending Variance

Fixed Overhead Volume Variance

$

Calculate the variable overhead spending and efficiency variances.

Variable Overhead Spending Variance $

Variable Overhead Efficiency Variance $

Prepare the journal entries that reflect the following:

a$.$ Assignment of overhead to production

b$.$ Recognition of the incurrence of actual overhead

c$.$ Recognition of overhead variances

d$.$ Closing out overhead variances, assuming they are not material

Note: Close the variances with a debit balance first. For compound entries, if an amount box does not require an entry, leave it blank or enter $"0".$

b$..$

c$.$

$1$

d$.$