The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $76,760 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal, 7,600 units, 40% completed 30 Direct materials, 69,000 units 30 Direct labor 30 Factory overhead 30 Goods finished, 2 units 30 Bal., 6,100 units, 80% completed 87,704 770,804 883,224 155,2381,038,462 683,100 112,420