In December, Davis Company had the following cost flows: Molding Department Grinding Department Finishing Department $30,000 12,800 59,500 $17,400 11,900 10,200 Direct materials Direct labor Applied overhead Transferred-in cost: From Molding From Grinding Total cost $111,800 7,200 8,400 127,400 229,700 $127,400 $229,700 $269,200 1. Prepare the journal entries to transfer costs from (a) Molding to Grinding, (b) Grinding to Finishing, and (c) Finishing to Finished Goods 2. CONCEPTUAL CONNECTION: Explain how the journal entries differ from a job-order cost system