Question

Brookman Company reported the following manufacturing overhead variances. ElB (Click the icon to view the overhead variances.) 24. Record the journal entry to adjust Manufacturing Overhead 25. Was Manufacturing Overhead overallocated or underallocated? 24. Record the journal entry to adjust Manufacturing Overhead. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Data Table Variable overhead cost variance Variable overhead efficiency variance Fixed overhead cost variance Fixed overhead volume variance $ 375 F 540 U 680 U 632 F 25. Was Manufacturing Overhead overallocated or underallocated? Manufacturing Overhead was adjusted with awhich indicates overhead was Print Done

Answer 1

Answer :-

24 ) :-

Date	General journal	Debit	Credit
	Variable Overhead Cost Variance	$375
	Fixed Overhead Volume Variance	$680
	Variable Overhead Efficiency Variance		$540
	Fixed Overhead Cost Variance		$632
	Manufacturing Overhead [ $540 + $632 - $375 - $680 ]		$117
	[ To adjust Manufacturing Overhead ]

25 ) :-

Manufacturing Overhead was adjusted with a Credit balance, which indicates overhead was under allocated.