Parkeville Compony manufactures a single product and started the year with no inventories. Selected information about results for the period just ended include the following: Fourteen percent of this period's production hss not been sold. There are never sny work-in-process inventories. Required: a. Assume Parkeville writes off all variances to Cost of Goods Sold. Prepore the entries the compony would make to record and close out the voriences. b. Assume Parkeville prorates all verisnces to the sppropriate accounts. Prepare the entries the company would make to record snd close out the voriances. Complete this question by entering your answers in the tabs below. Assume Parkeville writes off all variances to Cost of Goods Sold. 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 journal entry required" in the first account field.)