Managerial Accounting: E11-15 Linneas Company uses a standard costing system

Managerial Accounting
Linneas Company uses a standard costing system. During 2015, the company incurred actual overhead of $570,300. The standard rate for applying overhead is $4.14 per unit, and 128,700 units were produced in 2015. One-third of the total overhead variance is attributed to the volume variance, andthe remainder is attributed to the controllable overhead variance. 

Prepare the journal entries to record overhead incurred (you should credit "Miscellaneous Accounts") and the overhead variances.
Powered by