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 Marche Work in Process-Refining Department March 1 balance 32,000 Completed and transferred to Blending Materials 152,600 Direct labor 76,200 Overhead 480.000 March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements materials $7.200, direct labor, $3,300, and overhead, $21.500. Costs incurred during March in the Blending Department were materials used $45.000 direct labor $17.200, and overhead cost applied to production, $100,000 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. $696,000. (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 Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods, $780.000 9. Completed units were sold on account, $1,500,000. The Cost of Goods Sold was $630,000 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 $212,600 50.000 $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Show less View transaction list Journal entry worksheet 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 $212,600 Work in process-Blending $ 50.000 Department Finished goods $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet - ----- CUJUI UUUUS JUI WAS JUJUUUU. 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 $212,600 50.000 $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet a Raw materials used in production b. Direct labor costs incurred. c Manufacturing overhead costs incurred for the entire factory, $696,000. (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. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods $780,000 g. Completed units were sold on account. $1,500,000. The Cost of Goods Sold was 5630,000 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 $212,600 Work in process-Blending $ 50.000 Department Finished goods $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet Manufacturing overhead costs incurred for the entire factory $696,000. (Credit Accounts Payable) d. Manufacturing overhead was applied to production using a predetermined overhead rate. Units that were complete with respect to processing in the Refining Department were transferred to the Blending Department, $672,000. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods $780,000 9. Completed units were sold on account, $1,500,000. The Cost of Goods Sold was $630,000 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 $212,600 Work in process-Blending S 50.000 Department Finished goods $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (a) below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet a Raw materials used in production b. Direct labor costs incurred. c Manufacturing overhead costs incurred for the entire factory. $696,000. (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. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods $780,000 9. Completed units were sold on account, $1,500,000. The Cost of Goods Sold was $630,000, 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 $212,600 50.000 $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Show less View transaction list Journal entry worksheet a Raw materials used in production b. Direct labor costs incurred. c. Manufacturing overhead costs incurred for the entire factory, $696,000. (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. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods $780,000 g. Completed units were sold on account, $1,500,000. The Cost of Goods Sold was $630,000 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 $212,600 50.000 $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet a Raw materials used in production b. Direct labor costs incurred. Manufacturing overhead costs incurred for the entire factory $696,000. (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. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods $780 000 Completed units were sold on account. $1,500,000. The Cost of Goods Sold was $630,000. 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 Pinished goods $212,600 50.000 $ 28,000 Complete this question by entering your answers in the tabs below. Required Required 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 (9) below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Show less View transaction list Journal entry worksheet $780,000. g. Completed units were sold on account, $1,500,000. The Cost of Goods Sold was $630,000 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 Taccount shown above Raw materials $212,600 Work in process-Blending $ 50,000 Department Finished goods $ 28,000 Complete this question by entering your answers in the tabs below. Required Required Post the journal entries from Requirement 1 to T-accounts. Accounts Receivable Raw Materials Beg. Bal. Beg Bal. End, Bal0 End. Bal 0 Work in Process Refining Department Beg Bal. Work in ProcessBlending Department Beg. Bal. End, Bal End, Bal Finished Goods Manufacturing Overhead Beg. Bal. Beg Bal. End. Bal. 0 0 End. Bal Accounts Payable Salaries and Wages Payable Beg Bal Beg Bal End. Bal. End. Bal. Sales Cost of Goods Sold Beg Bal Beg. Bal. End Bal End. Bal.