ASAP!! I need help with question please.
Lubricants, Incorporated, produces a special kind of grease that is widely used by roce car divers. The grease is produced in two processing departments - Retining and Biending. Raw matetials are introduced of vatious points in the Refining Department. The fallowing incomplete work in Process account is avalable for the Refining Department for Morch: The March 1 work in process inventory in the Refining Department consists of the following elements: matetials, $8,300; direct labot, 53,200 ; and overtend, \$21,400. Costs incurred during March in the Blending Department weres materials used, $44,000; drect labor, $17700, and overtheod cost applled to production, $106,000. Required: 1. Prepare journal entries to record the costs incurred in both the Refining Department and Blending Department during March. Key your entrles to the items (0) through (g) below. a. Raw materiais used in production. b. Direct labor costs incurred. c. Manufacturing overhead costs incurred for the entire factory, $676,000. (Credit Accounts Payable) d. Manufocturing overhead was applied to production using a predetermined overhend rate. e. Units that were complete with respect to processing in the Refining Department were transferred to the Blending Department. $662,000 f. Units that were complete with respect to processing in the Biending Department were transferred to Finished Goods, $770.000. 7. Completed units were sold on account, $1,410,000. The Cost of Goods Sold was $610,000. Wreace journal entries to record the coats incurred in both the Refining Department and Blending Department during Mareh. Koy your entres to the itenis (a) theown (o) below. (A) no entry it required for a transaction/event, select "No journal entry required" in the first. occount field Show leas a aredurel 1 Frquires 2 Foti the journal entriei from kngurnment I to Trabocunts. \& Pequired 1 Lubricants, incorporated. produces a special kind of grease that is widely used by race car drivers. The grease is produced in two processing depatments- Rofining and Elencing. Raw materiats are introduced at various points in the Refining Department. \$3200; ond ovehed, $21,400. apoled to production, $106,000 Aequired: 1. Piepare journal enties to record the costs incutted in both the Refining Department and Biending Department during March. Key your entrec to the items ( through (a) below. n. Ros Taterials used in production, b. Direct inbor costs incurred. c. Menulactiong overheed conts incurred for the entire foctory, $676,000. (Credst Accounts Poyoble) 6. Manifecturing ovethead wss appled to oroduction using o predetermined ovetheed rate. e. Units that wese complete With respect to processing in the Refining Department were transferred to the Biending Department, 5662,000 t. Units thed wee complete with respect to processing in the Blending Department were tonsfetred to Finished Goods, $770.000. 9. Competed urits were sold on account, $1,410,000. The Cost of Goods Sold was $610,000. 2. Post the journel enties from (1) above to Taccounts. The following accourt balonces existed at the beginning of Morch. (The beginting oesance in the Pefining Deportment's Work in Process is given in the Taccount shown above.) Cenpiete this question by entering your answers in the tabs below. are journal entries to record the costs incurred in both the Refining Department and Blending Departme entries to the items (a) through ( g ) below. (If no entry is required for a transaction/event, select "No j irst account field.) ournal entry yorksheet 678 Record issuance of raw materials to Refining and Blending Department. ote: Enter debits before credits. Journal entry worksheet 678 Record direct labor cost incurred for Refining and Blending Department. Note: Enter debits before credits. Journal entry worksheet 1 5 7 8 Record manufacturing overhead costs incurred for the entire factory. Note: Enter debits before credits. Journal entry worksheet Record entry to apply overhead cost to production at a predetermined rate to the Refining Department and Blending Department. Note: Enter debits before credits. first account field.) Journal entry worksheet 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 D your entries to the items (a) through (g) below. (If no entry is required for a transaction/event, sele the first account field.) Journal entry worksheet Record the transfer of completed units from the Blending Department to finished goods. Note: Enter deblts before credits. Grepere journal entries to record the costs incurred in both the Refining Department and Blending Department during March. Key pour entries to the ltems (o) through () below. (If no entry is required for a transaction/event, select "No journal entry required" in the firth sccount field.). 3ournal entry worksheet Journal entry worksheet
