Number of Units Work-in-process, July 1, 50% complete for conversion costs 5,000 Transferred in during July 28,000 Completed during July 25,000 Work-in-process, July 31, 50% complete for conversion costs 8,000 Work-in-process, July 1 (transferred-in costs, $30,000; conversion costs, $31,500) Transferred in from assembly department during July Direct materials added during July Costs $ 61,500 217,500 81,250 106,250 Conversion added during July Total to account for Required: $ 466,500 Calculate each of the following amounts for the finishing department using the weighted-average process costing method, and then 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 labor is 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. 3. Cost of goods completed and transferred out during July. 4. Cost of Work-in-Process Inventory at July 31. (Round "WTAVG Cost per EU" answers to 2 decimal places. Round other answer values to the nearest whole dollars.) 1. Equivalent units: Transferred-in Direct materials Conversion 2. Unit costs Transferred-in Direct materials Conversion 3. Cost of goods completed and transferred out 4. Cost of ending work in process inventory < Req 1 to 4 Req 5 > Show less