Warner Company has the following data for the past year: Actual overhead $740,000 Applied overhead: $152,000 Work-in-process inventory Finished goods inventory Cost of goods sold 304,000 304,000 Total $760,000 Warner uses the overhead control account to accumulate both actual and applied overhead Required: 1. Calculate the overhead variance for the year. 20,000 Overapplied Provide the appropriate adjusting journal entry to close the overhead variance to cost of Goods Sold Overhead control 20.000 Cost of Goods Sold 20.000