Mscisz makes ice cream in two sequential processes: Mixing and Blending. Direct materials enter production at the beginning of each process. The following information is available regarding its March inventories. Beginning Ending Inventory Inventory Raw materials inventory... $ 72,000 $110,000 Work in process inventory-Mixing 156,000 250,000 Work in process inventory-Blending. 160,000 198,000 80,200 60,250 Finished goods inventory..... The following additional information describes the company's production activities for March. Direct Materials Factory Overhead (actual costs) Raw materials purchased on credit...... $212,000 Indirect materials used.... $41,200 Direct materials used-Mixing......... 174,000 Indirect labor used... 69,500 Direct materials used-Blending.... 44,000 Other overhead costs... 64,660 Direct Labor Factory Overhead Rates Direct labor-Mixing... $ 52,500 Mixing.. Direct labor-Blending... 74,680 Blending Total factory payroll paid (in cash).... 196,680 Sales... 75% of direct materials used 60% of direct labor used $490,000 1. Compute the amount of (a) production costs transferred from Mixing to Blending, (b) production costs transferred from Blending to finished goods, and (c) cost of goods sold. 2. Prepare journal entries dated March 31 to record the following March activities: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor costs, (e) indirect labor costs, (f) payment of factory payroll, (g) other overhead costs (credit Other Accounts), (h) overhead applied, (i) goods transferred from Mixing to Blending, (j) goods transferred from Blending to finished goods, (k) cost of goods sold, and (I) sales. 2 3 4 7 . 10 12 13 14 15 16 17 18 19 20 21 22 Part 1: Cost of goods transferred and cost of goods sold 23 24 25 26 27 28 Part 2: Summary journal entries 29 30 31 32 34 35 36 37 36 39 40 41 42 43 44 45 4 47 D