The Genuine Products Company manufactures “antique tables” in two processes. First, Genuine Products adds direct materials at the beginning of an assembly process in which the tables are assembled with precut and finished tops and legs. It then transfers the completed tables into an “aging” process in which they are nicked, scratched, and water-spotted by two skilled craftsmen. It adds no new direct materials to the aging process. At the end of the aging process, Genuine Products transfers the tables to the finished goods inventory. Genuine Products has the following cost and production information for the two processes during the month of March:

Cost Information Assembly Aging Beginning inventory costs:

Prior production — $2,200 Direct materials $ 950 es Conversion 240 77 Costs added during March:

Prior production — 28 Direct materials 11,300 —

Conversion 7,800 3,895 Total $20,290 Required: (1) Prepare the schedules that Geunine Products would included on its process cost sheet to assign the total costs accumulated in each of the two Goods-in-Process Inventory accounts at the end of March to the completed and unfinished tables.
(2) Using T-accounts, record the transfer of the costs of completed tables out of the two Goods-in-Process Inventory accounts at the end of March. TLK=2