Section 2: Process Costing Journal Entries Kondyra Company produces a product in two departments: (1) Mixing and (2) Finishing. The company uses a process cost accounting system (a) Purchased raw materials for $50,000 on account. (b) Raw materials requisitioned for production were: Direct materials Mixing department Finishing department $20,000 14,000 (c) Incurred labor costs of $69,000 (d) Factory labor used: Mixing department Finishing department $44,000 25,000 (e) Manufacturing overhead is applied to the product based on machine hours used in each department: Mixing department-300 machine hours at $30 per machine hour. Finishing department-500 machine hours at $20 per machine hour. (1) Units costing $56,000 were completed in the Mixing Department and were transferred to the Finishing Department (9) Units costing $60,000 were completed in the Finishing Department and were transferred to finished goods. (h) Sold product for $55,000 on account. The product cost $40,000 Instructions Prepare the journal entries to record the preceding transactions for Edmondson Company