Brinx Company uses a process cost accounting system. Materials are added at the beginning of the process. Direct labor and Overhead are added evenly throughout the process. The following are the operating and cost data information for January. The January 1 Beginning Work-In-Process - Mixing consisted of 20,000 units (30% complete) The cost for this inventory includes: $40,000 of direct materials, $25,000 of direct labor, and $75,000 of factory overhead. In addition to the beginning inventory, the company started 30,000 units They incurred the following cost into Work-In-Process Inventory: Direct materials, $190,000 Direct labor, $ 80,000 Factory overhead, $125,000 During January, the company completed and transferred out 40,000 units of its product to the WIP Packaging Department. At the end of the month, the work in process inventory consisted of 10,000 units that were 55% complete with respect to conversion cost.

A) Prepare the company's process cost summary for January: The report should include all of the following:

a) Units to Account For and Units Accounted For

b) Find Equivalent Units

c) Cost to Account For

d) Cost per Equivalent Unit

e) Cost Accounted For

B) Prepare the Journal entry for the transfer to the Packaging Department