Required information Use the following information for the Quick Study below. The following information applies to the questions displayed below. Alvarez Company's output for the current period yields a $37.000 favorable overhead volume variance and a $68,200 unfavorable overhead controllable variance. Standard overhead applied to production for the period is $226,000. QS 23-17A Preparing overhead entries LO P5 Alvarez records standard costs in its accounts. Prepare the journal entry to charge overhead costs to the Work in Process Inventory account and to record any variances. View transaction list Journal entry worksheet Record overhead applied to production and overhead variances. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal