Question: DO NOT round Intermediate calculations. Round final answers to nearest dollar for totals and two decimals for per unit. The Clarke Chemical Company produces a

 DO NOT round Intermediate calculations. Round final answers to nearest dollar
for totals and two decimals for per unit. The Clarke Chemical Company

DO NOT round Intermediate calculations. Round final answers to nearest dollar for totals and two decimals for per unit. The Clarke Chemical Company produces a special kind of body oil that is widely used by professional sports trainers. The oil is produced in three processes: Refining, Blending, and Mixing. Raw oil materials are introduced at the beginning of the refining process. A mountain-air scent" material is added in the blending process when processing is 50% completed. The following Work-in-Process account for the Refining Department is available for the month of July. The July 1 Work-in-Process Inventory contains $1,500 in material costs. Work-in-Process: Refining Beginning balance (5,000 gal., 80% complete) Materials (30,000 gal.) Direct Labor Overhead Ending balance (6,000 gal., 2/3 complete) $6,500 12,300 14,500 21,750 The following Work-in-Process account for the Blending Department is available for the month of July. The July 1 Work-in-Process inventory contains $5,920 in material costs, and $1.56/unit in costs transferred in from the Refining Department. Work-in-Process: Blending Beginning balance (8,000 gal., 30% complete) $22,850 Costs transferred-in from Refining 777 Materials 20,810 Direct Labor (725 hours) 5,748 Overhead 11,600 Ending balance (4,000 gal., 40% complete) The Clarke Chemical Company uses first-in, first-out (FIFO) costing for the Refining Department and weighted-average costing for the Blending Department. Required: 1. From the Refining process, enter the following: Total cost assigned to: Units completed and transferred out: Ending Work in Process Inventory: The Clarke Chemical Company uses first-in, first-out (FIFO) costing for the Refinin and weighted-average costing for the Blending Department. Required: 1. From the Refining process, enter the following: Total cost assigned to: Units completed and transferred out: Ending Work in Process Inventory: Average cost per unit of units transferred out (2 decimals): 2. From the Blending process, Enter the following: Total cost assigned to: Units completed and transferred out: Ending Work in Process Inventory: Average cost per unit of units transferred out (2 decimals)

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