The following information was taken from the ledger of Houston Foundry: (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. -X More Info Forming Department Equivalent Unit Computation Month Ended October 31 Flow of Equivalent Units Direct The Forming Department had 10,470 partially complete units in beginning work in process inventory. The department started work on 67,530 units during the month and ended the month with 9,000 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 $71,110 consisted of $21,510 of direct materials and $49.600 of conversion costs Conversion Physical Units Flow of Production Materials Costs Data Ta Units to account for: Print Done $? Units accounted for: Work in Process-Forming Beginning inventory, October 1 $ 71,110 Transferred to Finishing Direct materials 171,930 Conversion costs 162,800 Choose from any list or enter any number in the input fields and then continue to the next question Ending inventory It 11:45 AM 3/18/2021 The following information was taken from the ledger of Houston Foundry: (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.) Worverwocoworo Flow of Physical Units Equivalent Units Direct Conversion Materials Costs Flow of Production Units to account for: Units accounted for: Total equivalent units Choose from any list or enter any number in the input fields and then continue to the next question. Windows In Workspace The following information was taken from the ledger of Houston Foundry: E (Click the icon to view the data from October.) i (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.) The next step is calculating the cost per equivalent unit. (Enter the cost per equivalent unit to two decimal places.) Forming Department Cost per Equivalent Unit Month Ended October 31 Direct Conversion Costs Materials Total Cost per equivalent unit Now we can calculate the total cost of the units completed and transferred out and the ending work in process. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding Choose from any list or enter any number in the input fields and then continue to the next question. The following information was taken from the ledger of Houston Foundry: (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.) Now we can calculate the total cost of the units completed and transferred out and the ending work in process. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step.) > Assembly Department Month Ended October 31 Assigning Costs Direct Conversion Materials Costs Total Completed and transferred out: Ending work in process: Choose from any list or enter any number in the input fields and then continue to the next question. (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.) Ending work in process: Total costs accounted for Finally, journalize the transfer of costs to the Finishing Department. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Windows In Worksnare