Parkevilie Compony manufactures a single product and started the year with no irwentories Selected information about results for the period pust ended include the following Suxteen percent of this penocis production has not been sold. There are never ary work-n-process imentones. Required: B. Assume Parkevile writes oft at yatiances to Cost of Goods Sold. Prepare the enthes the company would make to record and close out the varlances? b. Assume Parkevile prorate- ail variances to the appropnate accounts. Prepare the entries the company would make to record and close out the variancest Cornplete this question by entering your answers in the tabs below. Aasume Parkevilie wriess off ali variances to cost of Coods selu. Prepare the entries the company would make to recerd and cose out Journal entry worksheet Ascume Parkeville prorates all variances to the dppropriate accounts. prepare the cntries the cornpany would make fo record and close out the variances. (it no entiy is requirgd for a thansaction/evant, setect No jourhal entry rogulred" in the firat account field.) Journal entry worksheet Record the purezase of various varable overhad rescurces. Note: Inter debis before atstu. Journal entry worksheet Record the application of variable overhead at standard rates to production. Notei Enter debits before credite. Journal entry worksheet Record the variable overhead variances, Note: Enter debits before credits. Journal entry worksheet A Record the closure of fixed overhead. Notel Enter debits betore credits. Journal entry worksheet Record the closure of overhead cost variances to Cost of Goods Sold. Notet Enter debits before credits. Assume Parkeville prorates all variances to the appropriate accounts. Prepare the entries the company would make to record and close out the variances. (If no entry is required for a transaction/event, select No fournal entry required" in the flist account field.) Journal entry worksheet E Record the purchase of various variable overhead resources. Note: Enter debits before creditsi. Journal entry worksheet Record the application of yariable overhead at standard rates to production. Note: Enter debits before credits. Journal entry worksheet Record the variable overhead variances. Note: Enter debits before credits. Journal entry worksheet Record the closure of fixed overhead. Fiotef Enter debits before credits. Journal entry worksheet Record the closure of overhead cost variances to Cost of Goods Sold and Finished Goods inventory. Note: Enter debits before credits