E21-8 The following information was taken from the ledger of Newport Glass. End- ing inventory is 50% complete as to direct materials but 30% complete as to conversion work. WORK IN PROCESS-FORMING Physical Units Dollars Physical Units Dollars Beginning inventory, September 30 Production started: -0- S -0- Transferred to 80,000 Finishing 72,000 S? Direct materials 247,000 Conversion costs 238,080 Ending inventory 8.000 Required Journalize the transfer of cost to the Finishing Department. (Hint: First compute the number of equivalent units and the cost per equivalent unit.)