Pharoah Boots had the following variances at year-end: Variances Amount Unfavorable DM Price Variance $248 U Unfavorable DM Efficiency Variance $124 U Favorable DL Efficiency Variance $330 F What is the effect of closing these variances on the Cost of Goods Sold account at year-end? O Decrease by $42 O Increase by $42 O Increase by $702 Decrease by $702