Closing the Balances in The Variance Accounts at the End of the Year Yohan Company has the following balances in its direct materials and direct labor variance accounts at year-end: Unadjusted Cost of Goods Sold equals $1,$70,000, unadjusted Work in Process equals $336,000, and unadjusted Finished Coods equals $240,000. Required: 1. Assume that the ending balances in the variance accounts are immaterial and prepare the journal entries to close them to Cost of Goods Sold. Note: Close the variances with a debit balance first. If an amount box does not require an entry, leave it blank. 28,000. If an ameunt box does not requlre an entry, leave it blank. n+ry. rentas woretitither What are the adjusted bulances in Work in Frocess, Minished Goods, and cont of Goods Sold aher deshg act al varances