Tough Hardware purchases raw materials and processes those purchases through a receiving/inspection process prior to stocking for production. Tough places 3 purchase orders for materials for production and receives the goods that day. The first PO is for 2,500 1/2 96 milling blanks at $2.75 each. The second is for 4,000 pieces of 48 96 1 sheet steel at $15.55 each. The third PO is for five 5 gallon drums of milling lubrication oil at $475.00 per barrel.

The receiving/inspection process is completed and the goods are transferred from Receiving Inventory to Raw Materials. The Receiving/Inspection Department assigns manufacturing overhead of $55.00 per purchase order as well as $2.75 per piece on metal goods and $35.00 per container on fluids. All labor is allocated through overhead.

	Required:
	(a) Write the journal entry to purchase and receive these items to Receiving Inventory on account.*
	(b) Assign overhead to the metal goods.*
	(c) Assign overhead to the fluid goods.*
	(d) Transfer all goods to Raw Materials Inventory.*
	*Refer to the Chart of Accounts for exact wording of account titles.