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 March: Work in Process-Refining Department March 1 balance 30, 800 Completed and transferred to Blending Materials 149,600 Direct labor 76,200 Overhead 487,000 March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $7,400; direct labor, $3,300, and overhead, $20,100. Costs incurred during March in the Blending Department were: materials used, $45,000; direct labor, $16,300; and overhead cost applied to production, $118,000. 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 incurred. C. Manufacturing overhead costs incurred for the entire factory, $686,000. (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, $692,000. f. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods, $730,000. g. Completed units were sold on account, $1,340,000. The Cost of Goods Sold was $600,000. 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 $ 205,600 $ 57,000 $ 16,000 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 Receivable Beg. Bal Beg. Bal. Raw Materials 205,600 194,600 a End. Bal End. Bal. 11,000 Beg Bal. a. Beg. Bal. Work in Process-Refining Department 30,800 149,600 76,200 e. a. b. d. Work in Process-Blending Department 57,000 692,000 45,000 16,300 118,000 730,000 198,300 487.000 b. e. 692,000 d. End. Bal. 51,600 End. Bal. Beg. Bal. Finished Goods 16,000 730.000 600,000 Beg. Bal d. Manufacturing Overhead 686,000 605,000 19 End. Bal 146,000 End. Bal. 81,000 Salaries and Wages Payable Accounts Payable 600,000 Beg. Bal Beg. Bal. 600,000 End. Bal. End. Bal 0 Sales Cost of Goods Sold Beg. Bal 9. Beg. Bal. 1,340,000 End. Bal. 1,340,000 End. Bal.