Question 1 (11 points) Penelope's Pots makes flower pots and uses a process costing system (weighted average method). Data relating to the company's Drying Department for the month of July is provided on the following page. In addition, costs associated with beginning inventory consisted of $1,600 for materials and $1,100 for conversion. Costs added this month were $15,000 for materials and $8,600 for conversion Required: 1. Complete the Production Report started below. Round all unit costs to two decimal places and all other amounts to the whole dollar, and reconcile the total cost. (9 marks) 2. Prepare the journal entry to record the cost of the units completed and transferred to the Packaging Department (2 marks) Question 1 (11 points) Penelope's Pots makes flower pots and uses a process costing system (weighted average method). Data relating to the company's Drying Department for the month of July is provided on the following page. In addition, costs associated with beginning inventory consisted of $1,600 for materials and $1,100 for conversion. Costs added this month were $15,000 for materials and $8,600 for conversion Required: 1. Complete the Production Report started below. Round all unit costs to two decimal places and all other amounts to the whole dollar, and reconcile the total cost. (9 marks) 2. Prepare the journal entry to record the cost of the units completed and transferred to the Packaging Department (2 marks)