Rayan Manufacturing Company produces a product in two departments: (1) Mixing and (2) Finishing. The company had the following transactions in March:

• Manufacturing overhead is applied to the product based on machine hours used in each department:

Mixing department: 300 machine hours at $30 per machine hour Finishing department: 500 machine hours at $20 per machine hour

• Units costing $56,000 were completed in the Mixing Department and were transferred to the Finishing Department.

• Units costing $60,000 were completed in the Finishing Department and were transferred to finished goods.

• Finished goods costing $40,000 were sold on account for $55,000.

Prepare the journal entries for Rayan Manufacturing Company.