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 3 1.600 Completed and balance transferred to Blending ? Materials 14 4.600 Direct labor 67,200 Overhead 4 7 6.000 March 3 1 balance ? s The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $7,700; direct labor, $3,400; and overhead, $20,500. Costs incurred during March in the Blending Department were: materials used, $45,000; direct labor, $17,300; and overhead cost applied to production, $104,000. 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 $ 2 0 5,600 Work in process 4 5,000 Blending Department Finished goods $ 1 3,000 $ ces Post the journal entries from Requirement 1 to T-accounts. Accounts Receivable Raw Materials Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Work in Process-Refining Department Beg. Bal. Work in Process-Blending Department Beg. Bal. es End. Bal. End. Bal. 0 Finished Goods Beg. Bal. Manufacturing Overhead Beg. Bal. End. Bal. 0 End. Bal. 0 Accounts Payable Beg. Bal. Salaries and Wages Payable Beg. Bal. End. Bal. End. Bal. 0 Sales Cost of Goods Sold Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0