McCallum Tool Company has two departments, assembly and finishing. The assembly department takes purchased parts an assembles the final product. The finishing department performs testing, adds other materials, and packages the product. Di materials are added at the end of the process in the finishing department. The following summarizes the finishing departme operations for the month of July. Work-in-process, July 1, 50% complete for conversion costs Transferred in during July Completed during July Work-in-process, July 31, 50% complete for conversion costs Work-in-process, July 1 (transferred-in costs, $50,000; conversion costs, $30,125) Transferred in from assembly department during July Direct materials added during July Conversion added during July Total to account for Required: Number of Units 4,000 28,000 27,000 5,000 Costs $ 80,125 150,000 60,750 110,000 $ 400,875 Calculate each of the following amounts for the finishing department using the weighted-average process costing method, prepare the requested journal entries. 1. Equivalent units of transferred-in, direct materials, and conversion. 2. Equivalent unit costs for transferred-in costs, direct materials, and conversion. 3. Cost of goods completed and transferred out during July. 4. Cost of Work-in-process inventory at July 31. 5. Prepare the journal entries for direct materials, direct labor, overhead, and finished product for July, assuming that direct I 50% of conversion cost. Complete this question by entering your answers in the tabs below. Req 1 to 4 Req 5 1. Equivalent units of transferred-in, direct materials, and conversion. 2. Equivalent unit costs for transferred-in costs, direct materials, and conversion. (Round your answers to 2 decimal places.) 3. Cost of goods completed and transferred out during July. 4. Cost of Work-in-Process Inventory at July 31.