Felicia Manufacturing Company sells a single model of an auxiliary fuel tank which is manufactured in two producing departments, Fabricating and Finishing. Each fuel tank is cut from steel, shaped, and welded to its basic form in the Fabricating Department. Then the tanks are transferred to the Finishing Department, where they are coated with a sealant and painted. Data related to August operations are:

Required:
(1) Assuming the company uses a process cost system with a fifo cost flow assumption, prepare a cost of production report for each department for August.
(2) Assuming the company maintains a separate work in process account for each of its two producing departments, prepare the appropriate general journal entries to record the charge to the producing departments for the costs incurred during August and to record the transfer of units from Fabricating to Finishing and from Finishing to Finished Goods Inventory.

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Fabricating Finishing Units in beginning inventory: Fabricating (100% materials, 40% labor, 400 and 80% overhead) Finishing (40% materials, 20% labor, and 20% overhead) 600 Units started in process in Fabricating Units transferred from Fabricating to Units transferred from Finishing to Units in ending inventory Department this period 1,200 1,100 1,100 Finished Goods this period Fabricating (100% materials, 80% labor, Finishing (100% materials, 60% labor, 1,300 and 90% overhead) 500 . and 60% overhead) Cost in beginning inventory: 400 Cost from preceding department. Materials Labor Factory overhead... $74,000 230 1,600 2,520 1,900 11,800 Cost added during the current period: Materials Labor Factory overhead 90,000 16,080 46,740 2,920 19,880 28.400