Exercise 11-33 Journal Entries for Overhead (Appendix A) (LO 11-8) Starlight Glassware Company has the following standards and flexible-budget data. Standard variable-overhead Standard quantity of direct Budgeted fixed overhead $100,000 per direct-labor hour hours per unit of output $7.00 rate labor Budgeted output 25,000 units Actual results for February are as follows: 20,000 units $348,000 $ 98,000 Actual output Actual variable Actual fixed Actual direct labor overhead overhead 48,000 hours Required: Prepare journal entries for the following transactions. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Record the incurrence of actual variable overhead and actual fixed overhead. Add variable and fixed overhead to Work-in-Process Inventory. Close underapplied or overapplied overhead into Cost of Goods Sold View transaction list