Business, 04.07.2020 16:01, axleon11

In December, Davis Company had the following cost flows: Molding DepartmentGrinding DepartmentFinishing Department
Direct materials$112,100$29,200$16,900
Direct labor8,10013,30011,900
Applied overhead9,20060,80010,700
Transferred-in cost:
From Molding 129,400
From Grinding 232,700
Total cost$129,400$232,700$272,200
Required:
1.Prepare the journal entries to transfer costs from (a) Molding to Grinding, (b) Grinding to Finishing, and (c) Finishing to Finished Goods.
2.CONCEPTUAL CONNECTION: Explain how the journal entries differ from a job-order cost system.

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In December, Davis Company had the following cost flows: Molding DepartmentGrinding DepartmentFinis...