Exercise $24\mathrm{.}10($Static$)$ Overhead Journal Entries $($LO$24-4)$

Use the following information of Alfred Industries:

$```$

Standard manufacturing overhead based on normal monthly volume:

Fixed $($$$400,000\backslash$div$40,000$ units$)$

$```$

$```$

Units actually produced in current month units

Actual overhead costs incurred $($including $$360,000$ fixed$)$

$ $480,000$

$```$

Required:

Prepare the journal entry to record the overhead at Alfred Industries.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Answer is not complete.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline No & Transaction & $\backslash$multicolumn$\{1\}\{|$c$|\}\{$ General Journal $\}$ & $\backslash$multicolumn$\{1\}\{$c$|\}\{$ Debit $\}$ & Credit $\backslash \backslash$

$\backslash$hline $1$ & a & Manufacturing overhead & $\backslash (\backslash$times $\backslash )$ & $\backslash (480,000\backslash$times $\backslash )\backslash \backslash$

$\backslash$hline & & Accounts payable & $\backslash (\backslash$times $\backslash )$ & $\backslash \backslash$

$\backslash$hline & & Overhead spending variance & $\backslash (\backslash$times $\backslash )$ & $\backslash (32,000\backslash$times $\backslash )\backslash \backslash$

$\backslash$hline & & Manufacturing overhead & $\backslash (\backslash$times $\backslash )$ & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$