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 $1,520,000, unadjusted Work in Process equals $306,000, and unadjusted Fi Required: 1. Assume that the ending balances in the variance accounts are immaterial and prepare the journal entries to close entry, leave it blank. What is the adjusted balance in Cost of Goods Sold after closing out the variances? What are the adjusted balances in Work in Process, Finished Goods, and Cost of Goods Sold after closing out all variances