Ramos Manufacturing Uses a Standard Cost System

Essay

Ramos Manufacturing uses a standard cost system. The T-account for manufacturing overhead is shown below:
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.