Exercise 6-44 Journal Entries, Basic Cost Flows In December, Davis Company had the following cost flows:

Required:
1. Prepare the journal entries to transfer costs from

(a) Molding to Grinding,

(b) Grinding to Finishing, and

(c) Finishing to Finished Goods.
2. Conceptual Connection Explain how the journal entries differ from a job-order cost system.

Direct materials Molding Department $111,600 Direct labor 8,000 Applied overhead 8,400 Grinding Department $ 30,000 13,600 60,400 Finishing Department $ 17,200 11,600 11,200 Transferred-in cost: From Molding 128,000 From Grinding 232,000 Total cost $128,000 $232,000 $272,000