Alpha Company manufactures candles. Each candle requires a wick and one kilogram of wax. The wick and melted wax are immediately placed in molds and allowed to harden for twenty four hours. The dried candles are then inspected and all defective candles are destroyed. Normal spoilage is regarded as 3% of the number of candles that pass inspection. Cost data for last week follows: Direct Materials Requisitioned Conversion Costs $ 33,400 $ 12,195 During the week, 78,000 candles were completed; 75,000 passed inspection and the remainder were defective. At the end of the week, 5,500 candles were still in the molds, they were considered 60% complete. There was no beginning W.I.P. inventory. Required: Prepare the journal entries to record abnormal spoilage and the transfer of the finished candles from the production area. Assume that the weighted average method is used. Repeat the above requirement, assuming that the FIFO method is used.