Superior Micro Products uses the weighted average method in its process costing system. During January, the Delta Assembly Department completed its processing of 26,700 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $705,672 in total. The ending work in process inventory in January consisted of 3.200 units, which were 50% complete with respect to materials and 30% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Cost per equivalent unit Materials $ 13.50 Labor $5.00 Overhead $ 6.70 Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total for January 4. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning work in process inventory and costs added during the month.) WINLESS Very II CUSUS DUUU UUU we Fron) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. Materials Labor Overhead Equivalent units Required 1 Required 2 > work in process inventory and costs added during the month.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for Januar Materials Labor Overhead Total Cost of ending work in process inventory (Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the cost of the units transferred to the next department for materials, labor, Overhead, and in total for January Materials Labor Overhead Total Cost of units completed and transferred out 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: March 1 balance Work in Process-Refining Department 31,400 Completed and transferred to slending 147.600 71,20 478.000 Materiale Direct labor Overhead March 31 balance The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $7100, direct labor, $3,400, and overhead, $20,900. Costs incurred during March in the Blending Department were: materials used, 546,000, direct labor, 516,600; 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 factory, $626,000. (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, $652,000. f. Units that were complete with respect to processing in the Blending Department were transferred to Finished Goods, $770,000. g. Completed units were sold on account, $1,420,000. 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 $207,600 $ 53,000 $ 27,000 Required 1 Required 2 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.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record issuance of raw materials to Refining and Blending Department. Note: Enter debits before credits Transactions General Journal Debit Credit Required 1 Required 2 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.) View transaction list Journal entry worksheet 3 4 5 6 7 Record direct labor cost incurred for Refining and Blending Department. Note: Enter debits before credits. Transactions General Journal Debit Credit Required 1 Required 2 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.) View transaction list Journal entry worksheet