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Please anwers all question and show how each question is solve. Thank you Closing the Balances in The Variance Accounts at the End of the

Please anwers all question and show how each question is solve. Thank you
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Closing the Balances in The Variance Accounts at the End of the Vear Yohan Company has the following balances in its direct materials and direct labor variance acceunts at year-end: Unadjusted Cost of Goods Sold equals 51,550,000, unadjusted Work in Frockss equals 5304 , oco. and undtusted Finished Geods equals 5200,000 . Requiredt 1. Assume that the ending balances in the variance accounts are immaterial and prepare the lournal entries to close them to Cost of Goods Sold. Note; Close the variances with a dehit bulance first. If an amouint box does not reguire an entry, leave ic blank, or enter "g". What is the adjusted balance in Cost of Goods Sold after dosing out the variances? Companies must restate costs and inventories at the end of the year to actual cons. So, varlance accounts imust be closed out and their balances applied to Cost of Goods Sold (if immaterial) or prorated among Cost of Goods Sold, Work an frocess, and Finished Gocos. 7 Check My Wisk Companies must restate costs and inventories at the end of the year to actual cost. So, variance accounts must be ciosed out and their balances applied to Cost of Goods Sold (if immaterial) or prorated among Cost of Goods 5old, work in Process, and Finished Foods. 2. What if any ending balance in a variance account that exceeds $10.000 is considered material? (a) Close the immaterial variance accounts to Cost of Goods Sold. (b) Prorate the Iargest of the labor variances arnong Cost of Goods Sold, Work in Process, and Fnished Goods on the basis of prime costs in these accounts. (c) Prorate the largest af the material variances among Cost of Goods. Sold, Work in Process, and Finished Goods on the basis of prime costs in these accounts. The prime cost in Cost of Goods Sold is 51,060 , 000, the prime cost in Work in Process is 5165,400 , and the orime cost in Finished Coods is $126,000. If an amount bex does not require an entry, learee it blank or enter " 0. Note; Round all interim calculations to three decimal places, and round your final answers to the nearest dollar. Adjust credit entry for rounding to ensure debits equal cretits in journal entry. Theok My Wore Eee Comerstone 9,5. What are the adjusted balances in Work in Process, Finished Goods, and Cost of Goods Sold after closing out all variances

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