The following incomplete Work in Process account is available for the Refining Department for March: Work in ProcessRefining Department | | | | March 1 balance | 33,300 | Completed and transferred to Blending | ? | Materials | 146,600 | | | Direct labor | 80,200 | | | Overhead | 484,000 | | | | | March 31 balance | ? | | | | | | The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $9,000; direct labor, $4,200; and overhead, $20,100. | Costs incurred during March in the Blending Department were: materials used, $46,000; direct labor, $17,100; and overhead cost applied to production, $114,000. | 1. | Prepare journal entries to record the costs incurred in both the Refining Department and Blending Department during March. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) | a. | Raw materials were issued for use in production. | b. | Direct labor costs were incurred. | c. | Manufacturing overhead costs for the entire factory were incurred, $656,000. (Credit Accounts Payable.) | d. | Manufacturing overhead cost 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. | 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, $1,360,000. The Cost of Goods Sold was $670,000. 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 Departments Work in Process account is given in the above question data.) | | | | Raw materials | $ | 205,600 | Work in processBlending Department | $ | 42,000 | Finished goods | $ | 23,000 | | After posting the entries to the T-accounts, find the ending balance in the inventory accounts and the manufacturing overhead account. | | | |