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Lamont Company produced $80,000$ machine parts for diesel engines. There were no beginning or ending work$-$in$-$process inventories in any department. Lamont incurred the following costs for May:

Molding Department Grinding Department Finishing Department

Direct materials $$12,000$ $$5,400$ $$8,000$

Direct labor $10,0008,80012,000$

Applied overhead $17,00014,00011,000$

Required:

Question Content Area

$1.$ Calculate the costs transferred out of each department.

Costs Transferred Out

Molding $fill in the blank c$4810$d$05$dfb$3$fab$\_1$

Grinding $fill in the blank c$4810$d$05$dfb$3$fab$\_2$

Finishing $fill in the blank c$4810$d$05$dfb$3$fab$\_3$

Question Content Area

$2.$ Prepare the journal entries corresponding to these transfers. Also, prepare the journal entry for Grinding that reflects the costs added to the transferred$-$in goods received from Molding. For a compound transaction, if an amount box does not require an entry, leave it blank.

Transfer entries:

blank

blank

Cost$-$added entry $($Grinding only$)$:

Question Content Area

$3.$ What if the Grinding Department had an ending WIP of $$11,000?$ Calculate the cost transferred out.

$fill in the blank $26$f$9$f$601207$cf$83\_1$

Question Content Area

Provide the journal entry that would reflect this transfer.

blank

Question Content Area

What is the effect on finished goods calculated in Requirement $1,$ assuming the other two departments have no ending WIP?

by $fill in the blank ca$887006$ffe$102$f$\_2$

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