Please correct answers Overhead Variances, Four$-$Variance Analysis, Journal Entries

Janson, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a

year is defined as $100,000$ units requiring $20,000$ standard direct labor hours. Budgeted overhead for the year is $$76,000,$ of which $$30,000$ is

fixed overhead. During the year, $96,000$ units were produced using $19,000$ direct labor hours. Actual annual overhead costs totaled $$80,000,$ of

which $$29,600$ 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.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.

a$.$

Variable Overhead Control $$

Fixed Overhead Control not$$

b$.$

c$.$

$50,400$

$460$

$400$

x

$$

X

X