Fischer Fabrication reported the following information concerning its direct materials: Assume that Fischer Fabrication had no beginning finished goods inventory and only produced one product. A count of inventory showed that 4,408 units remained in the warehouse. Required: a. Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close out the variances. b. Assume Fischer prorates all variances to the appropriate accounts. Prepare the entries Fischer would make to record and close out the variances. Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close out the variances. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fieid. A Record the standard cost of materials used and the materials efficiency variance. B Record the cost of the direct materials purchased and the materials price variance. C Record the closure of direct labor cost variances to Cost of Goods Sold. Assume Fischer prorates all variances to the appropriate accounts. Prepare the entries Fischer would make to record and close out the variances. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. A Record the standard cost of materials used and the materials efficiency variance. B Record the cost of the direct materials purchased and the materials price variance. Record the closure of direct labor cost variances to Cost of Goods Sold and Finished Goods Inventory. Credit Note : = journal entry has been entered