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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

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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 matertals are Introduced at various points in the Refining Department The following incomplete Work In Process account is available for the Refining Department for March: March 1 balance Materials Direct labor Overhead March 31 balance Mork In Process Refining Department 33,880 Completed and transferred to Blending 153,600 67,200 490,00 The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $8.200 direct labor. $4.400 and overhead, $21,200. Costs incurred during March in the Blending Department were: materials used. $46,000, direct labor. $16.500, and overhead cost applied to production, $115.000 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 tg) below. a Raw materials used in production b. Direct labor costs incurred c Manufacturing overhead costs incurred for the entire factory $646.000. 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. $622.000 Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods. $800,000 g. Completed units were sold on account, $1,310,000. The Cost of Goods Sold was $650,000 2. Post the journal entries from 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 account shown above. waterials Work in proces-blending Department Finished $ 200.000 549,00 $ 22,00 Raw materials Work in process-Blending Department Finished goods $206,688 $ 49,000 $ 27,888 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 March. entries to the items (a) through (9) below. (If no entry is required for a transaction/event, select "No journal entry required" account field) View transaction ist Journal entry worksheet Record issuance of raw materials to Refining and Blending Department. Note: Enter debits before credits Transactions General Journal Debit Credit Racord entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the journal entries from Requirement 1 to T-accounts. Accounts Rooelvable Raw Material Beg Bal Beg Bel End, Bal End. Bal Work In Prococo-Rofining Dapartment Work In Proopte-Blending Department Bog. Bal Boa Bal End. Bat. End Bal Finished Goods Manufacturing Overhead Beg Bal Beg Bal End. BAL End Bar Accounts Payable Balaries and Wage Pissable Bog. Bal Boga End. Bal end a Bales Coct of Good Bold Bog Bal BOQ B End Bal End

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