The following information was taken from the ledger of Dallas Foundry: B (Click the icon to view the data from October.) Click the icon for additional information.) Requirement Journalize the transfer of costs to the Finishing Department. (Hint: Complete the five-step process costing procedure to determine how much cost to transfer.) We need to begin the five-step process costing procedure by first summarizing the units to account for and computing the equivalent units. Forming Department Equivalent Unit Computation Month Ended October 31 $? Work in ProcessForming Beginning inventory, October 1 $ 32,300Transferred to Finishing Direct materials 183,790 Conversion costs 162,300 Ending inventory The Forming Department had 10,300 partially complete units in beginning work in process inventory. The department started work on 75,200 units during the month and ended the month with 8,500 units still in work in process. These unfinished units were 60% complete as to direct materials but 20% complete as to conversion work. The beginning balance of $32,300 consisted of $21,460 of direct materials and $10,840 of conversion costs