Hoffman Company manufactures car seats in its Boise plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department A (Click the icon to view information about Hoffman Company's process-costing system.) Prepare a set of summarized journal entries for all October 2017 transactions affecting Work in Process Assembly. (Reco Begin by recording the purchase and use of direct materials. Journal Entry Accounts Debit Credit JE 1 Record the conversion costs. Journal Entry Accounts Debit Credit JE 2 Prepare a journal entry to transfer out the cost of goods completed. Journal Entry Accounts Debit Credit JE 3 Set up a T-account for Work in Process-Assembly and post your entries to it. Work in Process --Assembly Bal. Bal 0 Total costs accounted for - X Dany manufactures car seats in its Boise plant. Each department. This problem focuses on the assembly icon to view information about Hoffman Company's ber 2017 are as follows: partment data.) account for.) ccounted for.) Completed and transferred out Work in process, ending Total costs accounted for Total Direct Conversion Production Costs Materials Costs $ 8,554,000 $ 6,772,000 $ 2,782,000 145.775 111,000 8,699,775 $ 5,883,000 $ 2,816,775 34.775 al entry to transfer out the cost of goods completed Noumal Entry i Data Table Print Done Total costs to account for Physical Units Direct Conversion (Car Seats) Materials Costs Work in process, October 1" 4,000 $1,248,000 $241,650 Started during October 2017 22.500 Completed during October 2017 26,000 Work in process, October 310 500 Total costs added during October 2017 $4,635,000 $2,575,125 "Degree of completion direct materials, 7% conversion costs, 45% "Degree of completion direct materials, %; conversion costs, 65% Work in process, beginning Costs added in current period Total costs to account for Total Direct Conversion Production Costs Materials Costs $ 1,489,650 $ 1,248,000 $ 241,650 7,210,1254,635,000 2,575,125 8,699.775 $ 5,883,000 $ 2,816,775 Print Done Print Done