Question: can you hep me solve this problem please. Problem 4-17 (Algo) Cost Flows [LO 4-1] Lubricants, Inc., produces a special kind of grease that is

can you hep me solve this problem please.
can you hep me solve this problem please. Problem 4-17 (Algo) Cost
Flows [LO 4-1] Lubricants, Inc., produces a special kind of grease that
is widely used by race car drivers. The grease is produced in

Problem 4-17 (Algo) Cost Flows [LO 4-1] 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 32,600 137,600 70, 200 490,000 2 March 1 balance. Materials Direct labor Overhead March 31 balance. The March 1 work in process inventory in the Refining Department consists of the following elements: materials, $7,800; direct labor, $3,500; and overhead, $21,300 Completed and transferred to Blending. Costs incurred during March in the Blending Department were: materials used, $45,000; direct labor, $17,300; and overhead cost applied to production, $106,000. 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, $696,000 (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. $632,000. 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, $1,380,000. The Cost of Goods Sold was $650,000. 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 $ 206,600 $ 58,000 $ 15,000 Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 11 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 (a) 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 1 2 Transactions 3 Note: Enter debits before credits. Record entry 4 5 Record issuance of raw materials to Refining and Blending Department. General Journal 6 Clear entry 4 7 8 Required 1 Debit Credit View general journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the journal entries from Requirement 1 to T-accounts. Beg. Bal. End Bal Beg. Bal End. Bal. Beg Bal End. Bal. Beg. Bal End. Bal Beg. Bal Accounts Receivable Work in Process-Refining Department Finished Goods Accounts Payable Sales: Beg Bal End. Bal Beg Bal End. Bal Beg Bal End. Bal Beg Bal End Bal Beg. Bal Raw Materials Work in Process-Blending Department Manufacturing Overhead Salaries and Wages Payable Cost of Goods Sold

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