Beginning of the year estimates:
Direct Materials Cotton	$210,000		WIP Units:	6,800
Direct Materials Lace	$350,000		BOY WIP Value:	$42,860
Direct Labor	$350,000		WIP Status:
MOH:	$170,000		Input	Completion	Value
Machine Hours:	21,000		Direct Material Cotton	30% Complete	$11,000
Direct Labor Hours	80,000		Direct Material - Lace	25% Complete	$20,980
Cost Allocation Base	Machine Hours		Conversion Costs	45% Complete	$10,880
End of the year Actuals:
Direct Materials Cotton	$200,000		WIP Units:	4,420
Direct Materials Lace	$180,000		WIP Value:	???
Direct Labor	$320,000		WIP Status:
MOH:	$164,000		Input	Completion	Value
Machine Hours:	21,252		Direct Material Cotton	65% Complete	???
Direct Labor Hours	79,870		Direct Material - Lace	75% Complete	???
Completed Units	18,900		Conversion Costs	90% Complete	???
Direct Material Purchases (total)	$425,000
MOH Bills:
Electric Payable	$42,000		Rent Payable	$36,000
Depreciation	$21,000		Indirect Materials	$12,000
Indirect Labor	$14,000		Taxes Payable	$39,000
Beginning of the year account balances
Direct Materials total	$50,000		WIP	$82,000
Finished Goods	$17,000

1. Calculate the value of the End of Year WIP and Finished Goods using Moiras preferred process costing technique. As the costumes are usually completed in the order begun, she prefers to use the FIFO method.

Journalize all necessary journal entries for this process-costing technique