cogs and sales table are same as other tables. please explain this for me. i will leave thumbs up. thank you so much for your help.
Is dVallable for the Refining Department for March March 1 balance Work in Process-Refining Department 33,400 Completed and transferred to Blending 141,609 64,200 490.000 Materials Direct labor Overhead March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $7,900; direct labor, $4,900; and overhead, $20,600. Costs incurred during March in the Blending Department were: materials used, $45,000, direct labor, $17.200; and overhead cost applied to production, $111,000. 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. a. Raw materials used in production b. Direct labor costs incurred. c. Manufacturing overhead costs incurred for the entire factory, $706,000. (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, $710,000. g. Completed units were sold on account, $1,470,000. The Cost of Goods Sold was $680,000. 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 Work in process-Blending Department Finished goods $ 211,600 $ 48,000 $ 26,000 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the costs incurred in both the Refining Department and Blending Department during Marc Key your entries to the items (a) through (9) below. (If no entry is required for a transaction/event, select "No journal entr required" in the first account field.) Debit Credit No Transactions 1 a General Journal Work in process-Refining Department Work in process--Blending Department Raw materials 141,600 211,600 211,600 > Required 2 > Post the journal entries from Requirement 1 to T-accounts. Accounts Receivable Raw Materials Beg. Bal. Beg Bal. End. Bal 0 End Bal 0 Work in Process --Refining Department Work in Process Blonding Department Beg Bal Beg. Bal End Bal 0 End. Bal 0 Finished Goods Manufacturing Overhead Beg Bal Beg Bai End Bal 0 0 End. Bal 0 Accounts Payable Salaries and Wages Payable Beg Bal Beg Bal End. Bal 0 End Ball 0 Sales Cost of Goods Sold
