Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete 100,000 Pounds started into production during May 350,000 Pounds completed and transferred out ? Pounds in process, May 31; materials 80% complete; conversion 20% complete 30,000 Cost data: Work in process inventory, May 1: Materials cost $ 88,400 Conversion cost $ 22,240 Cost added during May: Materials cost $ 400,000 Conversion cost Prepare the journal entry to record the material and conversion costs added to production this period (assume conversion costs are 40% direct labor costs and 60% overhead costs) 7. Prepare the journal entry to record the cost of the units completed and transferred out to the Mixing Department.