Question 1

Question 2

requirement 1-5

Lubcicants, Incorporated, produces a special kind of grease widely used by race car divers. 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 occount is avallable for the Refining Department for March: The March 1 work in process inventory in the Refining Department includes materials, \$7,700; direct labor, \$3,900; and overhead. $19.900. Costs incurred during March in the Blending Department were materials used, $45,000; direct labor, $17,400; and overhead cost applied to production, $116,000. 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 foctory, $616,000, (Credit Accounts Payable).) d. Manufacturing overhead was applied to production using a predetermined overhead rate. e. Units completed in the Refining Department were transferred to the Blending Department, $662,000. t. Units completed in the Blending Department were transferred to Finished Goods, $800,000. 9. Completed units were sold on account, $1,320,000. The Cost of Goods Sold was $630,000. 2. Post the journal entries from (t) above to T-accounts. The following account baiances existed at the beginning of March. (The beginning balance in the Refining Department's Work in Process is given in the T-account shown abovej Naw materisis Hork in process-blending Department rintahed goods 514,600543,000516,600 Complete this question by entering your answers in the tabs below. Fost the joumal entries from Requirement 1 to T-accounts. Old Country Links, Incorporated, produces sausages in three production departments-Mixing. Casing and Curing, and Packaging. In the Mixing Department, meats are prepared, ground and mixed with spices. The spiced meat mixture is transferred to the Casing and Curing Department, where the mixture is force-fed into casings and hung and cured in climate-controlled smoking chambers. In the Packaging Department, the cured sausages are sorted, packed, and labeled. The company uses the weighted-average method of process costing. Data for September for the Casing and Curing Department follow: Mixing cost represents the costs of the spiced meat mixture transferred in from the Mixing Department. The spiced meat mixture is processed in the Casing and Curing Department in batches; each unit in the above table is a batch and one batch of spiced meat mixture produces a set amount of sausages that are passed on to the Packaging Department. During September, 70 batches (i.e., units) were completed and transferred to the Packaging Department. Required: For September: 1. Determine the Casing and Curing Department's equivalent units of production for mixing, materials, and conversion. 2. Compute the Casing and Curing Department's cost per equivalent unit for mixing. materials, and conversion. 3. Compute the Casing and Curing Department's cost of ending work in process inventory for mixing, materials, conversion, and in total. 4. Compute the Casing and Curing Department's cost of units transferred out to the Packaging Department for mixing, materials, conversion, and in total. 5. Prepare a cost reconciliation report for the Casing and Curing Department. Complete this question by entering your answers in the tabs below. Determine the Casing and Curing Department's equivalent units of production for mixing, materials, and conversion for the month of September. Note: Round your intermediate calculations and final answers to 1 decimal place