You Are Provided with the Following Summary of Overhead-Related Costs

You are provided with the following summary of overhead-related costs for the most recent accounting period for a company that uses a single overhead account, Factory Overhead, into which it records both actual and standard overhead costs during the period:
1. Overhead standard cost variances for the period:
a. Fixed overhead (FOH) spending variance = $1,600U
b. Fixed overhead production volume variance = $200F
c. Variable overhead (VOH) efficiency variance = $1,050U
d. Variable overhead (VOH) spending variance = $150U
2. Actual fixed overhead cost incurred (depreciation) = $15,800; actual variable overhead cost incurred (paid in cash) = $4,800
3. Standard overhead cost applied to production (i.e., WIP inventory) during the period = $18,000
4. Standard overhead cost of units transferred to Finished Goods Inventory = $20,000
5. Before closing its accounts at the end of the period, the (standard cost) amounts affecting the inventory and CGS accounts are as follows:
Required:
Prepare the proper journal entry for each of the following events:
1. Incurrence of actual fixed overhead (FOH) costs for the period.
2. Incurrence of actual variable overhead (VOH) costs for the period.
3. Application of standard overhead costs to production (i.e., to WIP inventory).
4. Recording of standard overhead costs for units completed during the period.
5. Recording of the four standard cost variances for the period.
6. Closing the standard cost variances, under the assumption that the company closes these variances entirely to Cost of Goods Sold (CGS).
7. Closing the standard cost variances, under the assumption that the company prorates the variances to the CGS and inventory accounts. (Note: round allocated amounts to nearest whole dollar.)