Ramos Manufacturing uses a standard cost system.The T-account for manufacturing overhead is shown below:
$\begin{array}{cc}\text { Mantuacturing overhead}\\hline
\begin{array}{ll|l}
&95,000& \&&93,000
\end{array}
\end{array}$ In addition to the above,Ramos 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.Omit explanation.

Question

Ramos Manufacturing uses a standard cost system.The T-account for manufacturing overhead is shown below:
 $\begin{array}{cc}\text { Mantuacturing overhead}\\hline
\begin{array}{ll|l}
&95,000& \&&93,000
\end{array}
\end{array}$ In addition to the above,Ramos 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.Omit explanation.

Quizplus · Accepted Answer

The Answer of Ramos Manufacturing uses a standard cost system.The T-account for manufacturing overhead is shown below:
 $\begin{array}{cc}\text { Mantuacturing overhead}\\hline
\begin{array}{ll|l}
&95,000& \&&93,000
\end{array}
\end{array}$ In addition to the above,Ramos 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.Omit explanation.

Ramos Manufacturing Uses a Standard Cost System Mantuacturing overhead95,00093,000\begin{array}{cc}\text { Mantuacturing overhead}\\\hline\begin{array}{ll|l}&95,000& \\&&93,000\end{array}\end{array} Mantuacturing overhead​95,000​93,000​​​

Ramos Manufacturing Uses a Standard Cost System $\begin{array}{cc}\text { Mantuacturing overhead}\\\hline\begin{array}{ll|l}&95,000& \\&&93,000\end{array}\end{array}$