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8 years ago
Sinclair Manufacturing uses a standard cost system. The T-account for manufacturing overhead is shown below:

   Manufacturing overhead
95,000

   93,000


In addition to the above, Sinclair calculated the following overhead variances:

Variable overhead cost variance: $5,000 F
Variable overhead efficiency variance: $4,850 U
Fixed overhead cost variance: $1,200 F
Fixed overhead volume variance: $3,350 U
Prepare the journal entry to close the manufacturing overhead account and record the overhead variances.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Deprecated Author
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8 years ago
This was certainly a tough question, loving the expertise
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