Warner Company has the following data for the past year: Actual overhead $317,000 Applied overhead: Work-in-process inventory $68,000 Finished goods inventory 136,000 Cost of goods sold 136,000 Total $340,000 Warner uses the overhead control account to accumulate both actual and applied overhead. Required: 1. Calculate the overhead variance for the year. 23,000 Overapplied Feedback > Check My Work Provide the appropriate adjusting journal entry to close the overhead variance to Cost of Goods Sold. Overhead Control Cost of Goods Sold 23,000 23,000