1. For E5-15, prepare a cost of production summary for the month for Finishing.

In E5-15, Hanover Inc. has two production departments. Finishing had 2,000 units in process at the beginning of the period, three-fifths complete. During the period, 14,000 units were received from Assembly, 13,000 units were transferred to the finished goods storeroom, and 3,000 units were in process at the end of the period, two-thirds complete. The cost of the beginning work in process was:

Cost in Assembly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $12,000

Cost in Finishing:

Materials . . . . . . . . . . . . . . . . . . . . . . . ...... 600

Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..... 1,500

Factory overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .900

The costs during the month were:

Cost of goods received from Assembly . . . . . . . . . . . . . . . $84,000

Cost in Finishing:

Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..... 4,800

Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000

Factory overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,600

2. Prepare a journal entry to transfer the completed units from Finishing to the finished goods storeroom.