Units in beginning Work in Process (WIP) inventory 85,000 units Units started during the month (all direct materials, including cream and salt, are added at the beginning of the churning process) 1,900,000 units Units in ending Work in Process (WIP) inventory ( 40% of the way through the process) 140,000 units Cost information is as follows: WIP - Churning Department balance as of January 1 : Direct material cost included in beginning WIP balance Conversion cost included in beginning WIP balance Beginning balance, WIP, January 1 423,200294,450$717,650 Manufacturing costs incurred during January: Direct materials used Direct labor 1,800,00011,000550,000 Organic Dairy produces an organic butter that is sold by the pound. The production of the butter begins in the Chu Department Organic Dairy's Data for the Churning Department for January follows (Click the icon to view the data from January) Organic Dairy prepared the following production cost report for January for the Churning Department (Click the icon to view the January production cost report) Read the requirements. Requirement 2. What joumal entry is needed at the end of the month to transfer the cost of the butter out of the Churning Department and into the next department, the Forming Department? (Record debits first, then credits Exclude explanations from any journal entries) 56/23. 241PM Reference Organic Dairy Churning Department Month Endod January 31 Production Cost Report Units accounted for. Completed and transferred out Plus: Ending work in process, January 31 Total equlvalent units \begin{tabular}{rrr} 1,845,000 & 1,845,000 & 1,845,000 \\ \hline 140,000 & 140,000 & 56,000 \\ \hline 1,985,000 & & \\ \hline \hline & 1,985,000 & 1,901,000 \\ \hline \end{tabular} Completed and transferred out Equivalent units completsd and transferred out Multiplied by: Cost per equivalent unit Costs assigned to units completed and translerred out