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The cost of materials transferred into the Filling Department of Ivy Cosmetics Company is $19,250, including $4,000 from the Blending Department and $15,250 from the materials storeroom. The conversion cost for the period in the Filling Department is $6,320 ($1,520 factory overhead applied and $4,800 direct labor). The total cost transferred to Finished Goods for the period was $24,930. The Filling Department had a beginning inventory of $2,700. Required: a. 1. On June 30, journalize the cost of transferred-in materials. * 2. On June 30, journalize the conversion costs.* 3. On June 30, journalize the costs transferred out to Finished Goods. * *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered b. Determine the balance of Work in Process-Filling at the end of the period. CHART OF ACCOUNTS Ivy Cosmetics Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 141 Work in Process-Blending 520 Wages Expense 142 Work in Process-Filling 531 Selling Expense 151 Factory Overhead-Blending 532 Insurance Expense 152 Factory Overhead-Filling 533 Utilities Expense 161 Finished Goods 534 Supplies Expense 171 Supplies 540 Administrative Expense 172 Prepaid Insurance 561 Depreciation Expense-Factory 173 Prepaid Expenses 590 Miscellaneous Expense 181 Land 710 Interest Expense 191 Factory 192 Accumulated Depreciation-Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends a1. On June 30, journalize the cost of transferred-in materials. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 a2. On June 30, journalize the conversion costs. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 a3. On June 30, journalize the costs transferred out to Finished Goods. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 b. Determine the balance of Work in Process-Filling at the end of the period