In reviewing activity for july, the controller of mathis, inc., collected the following data concerning direct materials. actual production 119,000 units direct materials purchased (actual) $ 2,026,800 standard cost of materials purchased 1,586,000 standard direct materials costs per unit produced 14 standard price times actual amount of materials used 1,437,950 assume that mathis company had no beginning finished goods inventory and only produced one product. mathis sold 104,720 units during the period. required: a. assume mathis writes off all variances to cost of goods sold. prepare the entries mathis would make to record and close out the variances. b. assume mathis prorates all variances to the appropriate accounts. prepare the entries mathis would make to record and close out the variances.