Support Patterson Laboratories, Inc., produces one of its products in two successive departments. All materials are added at the beginning of the process in Department 1; no materials are used in Department 2. Conversion costs are incurred evenly in both departments. Patterson uses the weighted average method for process costing. January 1, 2019, inventory account balances are as follows: Materials inventory $30,000 Work in process Department 13,000 units, 30complete) Direct material 4,560 Conversion costs 10,640 Work in process-Department 23.550 units, 80% complete) 43.499 Finished goods inventory (2.000 units 516) 32.000 During January, the following transactions occurred; 1. Purchased material on account, $90,000. 2. Placed $84,000 of material into process in Department 1. This $84,000 represents 24,000 units of materials 3. Distributed total payroll costs: $108,116 of direct labor to Department 1.562,700 of direct labor to Department 2 and 551,000 of indirect labor to Manufacturing Overhead, 4. Incurred other actual manufacturing overhead costs, $81.000. (Credit Other Accounts.) 5. Applied overhead to the two processing departments: 588.000 to Department 1 and $43.900 to Department 2 6. Transferred 25,000 completed units from Department to Department 2. The 2.000 units remaining in Department 1 were 20% completed with respect to conversion costs 7. Transferred 26,000 completed units from Department 2 to finished goods inventory. The 2.550 units remaining in Department 2 were 70% completed with respect to conversion costs B. Sold 20,000 units on account at $27 per unit. Patterson uses weshted average inventory costing procedures for the finished goods inventory 8:41 PM 9/2000 O BI Type here to search Determine the balances remaining in the Materials Inventory account, in each work in process account, and in the Finished Goods inventory account Enter answers in the order of your journal entries in part a, using the first available answer box in the appropriate debitor credit column Materials Inventory OX Bal Ball Bal OX 0 Work in Process-Dept. 1 ON OK 0 OX O ON O OM O Work In Process Dept. 2 OM Support Bal Bal OX OM O OX Finished Goods Inventory OM OX O B O Type here to search 914/2020