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Using the attached schedules, prepare a Cost of Production Report for the Finishing Department for the month of July, assuming a FIFO cost flow. Round

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Using the attached schedules, prepare a Cost of Production Report for the Finishing Department for the month of July, assuming a FIFO cost flow. Round costs per equivalent unit to four decimal places and all other dollar amounts to the nearest whole dollar. REQUIRED: (I) Prepare the general journal entry(ies),in good form, required by the company to record the transfer of costs out of the Finishing Department this period. Provide explanations for the entry(ies). (2)

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