Preparing a cost of production report for two departments and making journal entries. The Wallace Company uses a process cost accounting system. All materials in the first department (Shaping) are placed in production at the start of the manufacturing process. Materials put into production in the second department (Finishing) are added in proportion to labor and overhead. Data for the month of April 19X9 are given below and on page 350. Assume that the company uses the FIFO method of costing.

Instructions 1. Complete the equivalent production computations for each department.
2. Prepare a cost of production report for each of the two departments.
3. Prepare entries in general journal form to record the costs charged to each department, the costs transferred between departments, and the costs transferred out to finished goods. Date the entries April 30, 19X9.

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Costs Beginning Work in Process Costs in Prior Department Shaping Finishing Department Department -0- $3,064 Costs in Current Department Materials $1,500 213 Labor 340 362 Overhead 370 192 Current Department Costs-April Materials 19,200 7,488 Labor 17,680 5,488 Overhead 16,720 4,980