22. The cost of production summary for Mahi Industries follows: Mahi Industries Cost of Production Summary For the Month Ended May 31,20 Cost of production for month $8,000 4,000 Materials Labor Factory overhead $15,000 Total costs to be accounted for Unit output for month Finished and transferred to Finished goods during month Equivalent units of work in process, end of month (2,000 units, 25% completed) 3,500 ction Unit cost for month: $2.00 1.00 Materials ($8,000/4,000) Labor ($4,000/4,000) Factory overhead ($3,000/4,000) Total $3.75 Inventory costs: Cost of goods finished and transferred to Finished goods during month: (3,500 x $3.75) $13,125 Cost of work in process, end of month: $1,000 500 Materials (2,000 x .25 x $2.00) Labor (2,000 .25 $ 1.00) Factory overhead (1,000 x .25 x $.75) 1,875 $15,000 Total production costs accounted for What is the journal entry to record materials issued into production? a. Finished goods Materials 8,000 8,000 b. Work-in-process Materials 8,000 1 8,000 c. Work-in-process 1,000 Materials 1,000 d. Materials 8,000 Accounts payable 8,000