2. XYZ Co. manufactures a high-quality product which goes through two departments; mixing department and finishing department. Beg WIP Inv.: 8,000 units Raw Material $45,600 Direct Labor $49,300 Manuf. Overh. $43,720 D/M used in current period $81,200 D/L incurred in current period $206,700 M/O applied $186,680 Units completed and T/O 30,000 End. WIP Inv.: 10,000, D/M 100%, Conv. 20%. b) Prepare the journal entries for -release of D/M, -incurrance of D/L, -application of M/0, and - transferring units completed to mixing dept. 1