Arctic Springs produces premium bottled water. In the Bottling Department, workers bottle the filtered water and pack the bottles into boxes. Conversion costs are incurred evenly throughout the bottling process, but packaging materials are not added until the end of the process. May data from the Bottling Department follow: Click the icon to view the costs.) Click the icon to view the assignment of costs.) 1. Prepare the journal entry to record the cost of units completed and transferred to finished goods. 2. Post all transactions to the "Work in Process Inventory ---Bottling" T-account. What is the ending balance? 1. Prepare the journal entry to record the cost of units completed and transferred to finished goods. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Credit Finished Goods Inventory Work in Process Inventory-Bottling Debit 2. Post all transactions to the "Work in Process Inventory--Botting T-account. What is the ending balance? Work in Process Inventory-Bottling Transferred to Finished Goods Inventory Bal, May 1 Transferred in from Filtration Direct materials Direct labor Manufacturing overhead Data Table Costs in beginning work in process inventory Costs added during May Transferred in $ 2.780 Transferred in S 135,000 Direct materials 0 Direct materials 28.880 Direct labor 560 Direct labor 33.800 1.416 Manufacturing overhead Manufacturing overhead 22.400 Total beginning work in process inventory as of May 1 $4,756 5 Total costs added during. May 220,080 The Filtration Department completed and transferred out 125.000 liters at a total cost of $135.000 Reference -X Bottling Department Assigning Costs Transferred- Direct Conversion in Materials Costs Total Completed and transferred out: Equivalent units completed and transferred out 152,000 152,000 152,000 Multiplied by: Cost per equivalent unit $ 0.83 $ 0.23 $ 0.36 Costs assigned to units completed and transferred out 126,160 $ 34,960 $ 54.720 $ 215,840 Ending work in process: Equivalent units in ending work in process, May 31 14,000 0 11.200 Multiplied by: Cost per equivalent unit $ 0.83 $ 0.23 $ 0.36 Costs assigned to units in ending work in process, May 31 $ 11,620 S 0$ 15,652 4,032 Total costs accounted for $ 231,492 Print Done