Journal Entries, Cost of Ending Inventories Baxter Company has two processing departments: Assembly and Finishing. A predetermined overhead rate of $10 per DLH is used to assign overhead to production. The company experienced the following operating activity for April: a. Materials issued to Assembly, $24,000 b. Direct labor cost: Assembly, 500 hours at $9.20 per hour; Finishing, 400 hours at $7 per hour c. Overhead applied to production d. Goods transferred to Finishing, $32,400 e. Goods transferred to finished goods warehouse, $20,500 f. Actual overhead incurred, $10,000 Required: 1. Prepare the required journal entries for the preceding transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. a. b. d. f. 000 00 2. Assuming Assembly and Finishing have no beginning work-in-process inventories, determine the cost of each department's ending work-in-process inventories. Ending Inventory Work in Process-Assembly Work in Process-Finishing