Lake Stevens Manufacturing Company uses a standard cost system. After actual manufacturing costs have been recorded and manufacturing overhead has been applied, there is a credit balance of $5,000 in the manufacturing overhead account. Variances were as follows:

Prepare the journal entry to recognize the manufacturing variances.

Question

Lake Stevens Manufacturing Company uses a standard cost system. After actual manufacturing costs have been recorded and manufacturing overhead has been applied, there is a credit balance of $5,000 in the manufacturing overhead account. Variances were as follows:
 
Prepare the journal entry to recognize the manufacturing variances.

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The Answer of Lake Stevens Manufacturing Company uses a standard cost system. After actual manufacturing costs have been recorded and manufacturing overhead has been applied, there is a credit balance of $5,000 in the manufacturing overhead account. Variances were as follows:
 
Prepare the journal entry to recognize the manufacturing variances.

Lake Stevens Manufacturing Company Uses a Standard Cost System