Sinclair Manufacturing uses a standard cost system

The T-account for manufacturing overhead is shown below:

Manufacturing overhead
95,000

93,000

In addition to the above, Sinclair 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.
What will be an ideal response

Fixed Overhead Volume Variance 3,350
Variable Overhead Efficiency Variance 4,850
Variable Overhead Cost Variance 5,000
Fixed Overhead Cost Variance 1,200
Manufacturing Overhead 2,000