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please help Closing the Bolances in The Variance Accounts at the End of the Year Yohan Compary has the following balances in its direct materials

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Closing the Bolances in The Variance Accounts at the End of the Year Yohan Compary has the following balances in its direct materials and direct labor variance accounts ot year-end: Unadjusted Cost of Goods \$old equals $1,520,000, unadjusted Work in Process equats $246,000, and unadjusted Finished Goods equals $260,000. Required: 1. Assume that the ending balances in the variance accounts are immaterial and prepare the journal entries to close them to Cost of Goods Sold, Note: Close the v debit balance first, If an amount box does not require an entry, leave it blank. What are the adjusted balances in Work in Process, Finished Goods, and Cost of Goods Sold after closing out all variances? What is the adjusted balance in Cost of tionds Sold after closing out the vanisnces? Fresous The largest of the Labor variances arnong Cost of Goods Sold, Wock, in Process, and finished Goods on the basis of prime costs in these accounts. (c) Prorate the largest of the $1,060,000, the prime cost in Work in Process is $160,600, and the prime cost in finched Goods is $130,000. If an amount box does not require an entry, leave it blank. Note: Round all interim calculations to three decimal places, and round your final answers to the nearest doltar. Adjust credit entry for rounding to ensure debits equal credsts in journal entry

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