Question: Please show each step so I can follow along and learn 21. Process Costing Journal Entries. Assume a company has two processing departments-Molding and Packaging.

Please show each step so I can follow along and learn Please show each step so I can follow along and learn 21.

21. Process Costing Journal Entries. Assume a company has two processing departments-Molding and Packaging. Transactions for the month are shown as follows. 1. The Molding department requisitioned direct materials totaling $2,000 to be used in production. 2. Direct labor costs totaling $3,500 were incurred in the Molding department, to be paid the next month. 3. Manufacturing overhead costs applied to products in the Molding department totaled $2,500. 4. The cost of goods transferred from the Molding department to the Packaging department totaled $10,000. 5. Manufacturing overhead costs applied to products in the Packaging department totaled $1,800. Required: Prepare journal entries to record transactions 1 through 5

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