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prepare a report that sums all the variances necessary to prepare the reconciling journal entry at the end of the period. Explain how you would

prepare a report that sums all the variances necessary to prepare the reconciling journal entry at the end of the period. Explain how you would close the total variance; that is, identify the account or accounts that would be affected, and whether expenses in the accounts will be increased or decreased to adjust the records for the total variance

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