Instructions In December, Davis Company had the following cost flows: Molding Department Grinding Department Finishing Department Direct materials $112,200 $30,300 $17,800 Direct labor 8,500 14,000 12,000 Applied overhead 8,800 60,700 10,800 Transferred-in cost: From Molding 129,500 From Grinding 234,500 Total cost $129,500 $234,500 $275,100 Required: 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. DATE ACCOUNT POST. REF. DEBIT CREDIT 129,400.00 Work in Process-Grinding Work in Process-Molding 129,400.00 232.700.00 Work in Process-Finishing Work in Process-Grinding 232,700.00 Finished Goods 272,200.00 Work in Process-Finishing 272,200.00