14.280 (c) Pina Colada Company produces a product in two departments: (1) Missing and (2) Finishing. The company uses a process cost accounting system. Pina Colada had the following transactions during the current month (a) Purchased materials for $51,000 on account. (b) Direct materials requisitioned for production were: Direct materials Miscing department $20,400 Finishing department Incurred tabor costs of $75.480. Factory labor used: Mixing department 544 880 Finishing department 30.600 Manufacturing overhead is applied to the product based on machine hours used in each department: Mixing department-40B machine hours at $30 per machine hour. Finishing department-510 machine hours at $20 per machine hour. Units costing $57.120 were completed in the Mixing Department and were transferred to the Finishing Department 18) Units costing $71,400 were completed in the Finishing Department and were transferred to finished goods Finished goods costing $40.800 were sold on account for $56,100 (d) (e) th) Prepare the journal entries to record the preceding transactions for Pina Colada Company. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) (Purchase of raw materials on account) (b) (To record direct materials used in production) (0) (To record payroll liability) (d) To woduction (e) (To assign overhead to production) () (To record transfer of units to the Finishing Department) (8) (To record transfer of units to finished goods) (hi) (To record sale of finished goods on account) (h2)