7:35 PM Tue Feb 22 Take Quiz Question 4 BNC Company produces a product in two departments: (1) Mixing and (2) Finishing. The company uses a process cost accounting system. No. Accounting Transactions Transactions 50% Exit 10 pts (e) (f) (g) (h) Manufacturing overhead is applied to the product based on machine hours used in each department: Mixing department-400 machine hours at $30 per machine hour. Finishing department-500 machine hours at $20 per machine hour. Units costing $56,000 were completed in the Mixing Department and were transferred to the Finishing Department. Units costing $70,000 were completed in the Finishing Department and were transferred to finished goods. Finished goods costing $40,000 were sold on account for $55,000. Prepare the journal entries to record the preceding transactions for BNC Company. List debit transactions first and then list credit transactions. General Journals No. Account Titles and Explanation Work in Process Inventory-Mixing [Select] [Select] Debit ($) [Select] Cre 7:36 PM Tue Feb 22 Explanation Work in Process Inventory-Mixing [Select] Take Quiz [Select] [Select] [Select] To assign overhead to processes (f) [Select] [Select] To record transfer of units to the Finishing Department . [Select] [Select] [Select] [Select] To record transfer of units to finished goods (h) Select [Select] [Select] [Select] [Select] [Select] [Select] 50% Exit 7:36 PM Tue Feb 22 Take Quiz (f) [Select] [Select] [Select] To record transfer of units to the Finishing Department (g) | Select [Select] To record transfer of units to finished goods (h) [Select] [Select] To record the sale of goods on account [Select] [Select] To record cost of goods sold [Select] [Select] [Select] [Select] [Select] [Select] [Select] 50% Exit