Martinez Company produces a product in two departments: (1) Mixing and (2) Finishing. The company uses a process cost accounting system. Martinez had the following transactions during the current month: (a) Purchased mate rials for $48000 on account. (b) Direct materials requisitioned for production were: u h 0 E Direct materials Mixing department $19200 Finishing department 13.440 (c) Incurred labor costs of $71,040. (d) Factory labor used: Mixing department $42240 Finishing department 28.800 (e) Manufacturing overhead is applied to the product based on machine hours used in each department: Mixing department384 machine hours at $30 per machine hour. Finishing department480 machine hours at $20 per machine hour. (f) Units costing $53,760 were completed in the Mixing Department and were transferred to the Finishing Department. (g) Units costing $67,200 were completed in the Finishing Department and were transferred to nished goods. {3:3