7.5 points eBook Print References Lubricants, Incorporated, 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: Work in Process-Refining Department Debit March 1 balance. Materials Direct labor Overhead March 31 balance 33,400 140,600 75,200 478,000 ? Credit Completed and transferred to Blending a. Raw materials used in production. b. Direct labor costs incurred. ? The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $8,400; direct labor, $3,900; and overhead, $21,100. Costs incurred during March in the Blending Department were: materials used, $45,000; direct labor, $17,600; and overhead cost applied to production, $110,000. 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. 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, $682,000. f. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods, $720,000. g. Completed units were sold on account, $1,470,000. The Cost of Goods Sold was $650,000.

2. Post the journal entries from (1) above to T-accounts. The following account balances existed at the beginning of Match. (The beginning balance in the Refining Department's Work in Process is given in the T-account shown above.) flav materiali Nork in process-blending Department rinisbed goods $207,600$59,000$29,000 Complete this question by entering your answers in the tabs below. 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. (If no entry is required for a transactionvevent, saloct "No joumal entry required" in the first account field.) Lubricants, Incorporated, 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 varlous points in the Refining Department. The following incomplete Work in Process account is available for the Refining Department for March: The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $8,400; direct labor, $3,900; and overhead, $21,100. Costs incurred during March in the Blending Department were: moterials usod, $45,000; direct lobot, $17,600; and overheed cost applied to production, $110,000. Required: 1. Prepare journal entries to record the costs incurred in both the Refining Department and Bionding Department during March. Koy your entries to the items (0) through (g) below. a. Raw materials used in production, b. Direct labor costs incurred. 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 transfecred to the Biending Department, $682,000. f. Units that were complete with respect to processing in the Blending Department were transferred to Finiahed Goods, $720,000. 9. Completed units were sold on account, $1,470,000. The Cost of Goods $ sold was $6$0,000. Prepare joumal 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. (If no entry is required for a transaction/event, select "No Journal ontry required" in the first account field.) Journal entry worksheet 345678 Record issuance of raw materiais to Refining and Blending Department. Notei Enter debits before credits