10 Check my work 3 Lubricants, Inc., produces a special kind of grease that is widely used by race car drivers. The grease is produced in two processing departments-Refining and Blending. Raw materials are introduced at various points in the Refining Department. The following incomplete Work in Process account is available for the Refining Department for March 4 points Work in Process-Refining Department March 1 balance 32,700Completed and transferred to Blending eBook Materials Direct labor 142,600 77,200 471,000 Print Overhead References March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $7,900; direct labor, $3,500; and overhead, $21,300. Costs incurred during March in the Blending Department were: materials used, $44,000; direct labor, $17,900; and overhead cost applied to production, $104,000 10 Check my work 3 Required 1. Prepare journal entries to record the costs incurred in both the Refining Department and Blending Department during March. Key your entries to the items (a) through (g) below. 4 a. Raw materials used in production. b. Direct labor costs incurred. points C. Manufacturing overhead costs incurred for the entire factory, $626,000. (Credit Accounts Payable) d. Manufacturing overhead was applied to production using a predetermined overhead rate e. Units that were complete with respect to processing in the Refining Department were transferred to the Blending Department, $672,000 f. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods, $790,000 g. Completed units were sold on account, $1,450,000. The Cost of Goods Sold was $650,000 eBook Print Referencesf 2. Post the journal entries from (1) above to T-accounts. The following account balances existed at the beginning of March. (The beginning balance in the Refining Department's Work in Process is given in the T-account shown above.) Raw materials s 205,600 Work in process-Blending Department46,000 $ 21,000 Finished goods Complete this question by entering your answers in the tabs below Required 1 Required 2