3. Ralph Co. manufactures specialized plastic boxes in two processes: Assembly and Finishing. the Finishing Department, materials are added at the end of the process. The following data pertaining to the Finishing Department are given: Units Transferred-in Costs $11,650 Direct Materials $0 Conversion Costs $12,750 Work in process, July 1 10,000 Transferred-in 60,000 12,000 Work in process, July 31 Costs added during July $69,900 $35,200 $81,600 The conversion process on the beginning inventory is 30% complete and the ending inventory is one third complete. FIFO method is used. (1) Prepare the journal entry for the transferred in costs in the month of July. (2) Prepare the cost section of the production report for the Finishing Department. (3) Prepare the journal entry for the costs transferred out