By year-end, Whispering Corp. had recognized standard cost variances for all of its production costs, including DM, DL, variable-MOH, and fixed-MOH. The following variances exist per the trial balances; the balance of COGS at this time is $115,710. Record the journal entry to write off these variances directly to COGS. Make note of the adjusted COGS balance after this entry is posted. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Record the journal entry to write off these variances directly to COGS. Make note of the adjusted COGS balance after this entry is posted. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.)