Business, 13.10.2021 01:40 utjfkdndidndldn62121

Lamont Company produced 80,000 machine parts for diesel engines. There were no beginning or ending work-in-process inventories in any department. Lamont incurred the following costs for May: Molding Department Grinding Department Finishing Department Direct materials $13,000 $5,300 $8,000 Direct labor 10,000 8,800 12,000 Applied overhead 17,000 15,000 11,000 Required: 1. Calculate the costs transferred out of each department. Costs Transferred Out Molding $fill in the blank c2c29afb2078fe8_1 Grinding $fill in the blank c2c29afb2078fe8_2 Finishing $fill in the blank c2c29afb2078fe8_3 2. Prepare the journal entries corresponding to these transfers. Also, prepare the journal entry for Grinding that reflects the costs added to the transferred-in goods received from Molding. For a compound transaction, if an amount box does not require an entry, leave it blank. Transfer entries: - Select - - Select - - Select - - Select - - Select - - Select - Cost-added entry (Grinding only): - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - 3. What if the Grinding Department had an ending WIP of $11,000

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