Question

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 $ 213,600 $ 48,000 $ 29,000 Complete this question by entering your answers in the tabs below. 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 (g) 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.

Answer 1

	Materials	Conversion	Total
Cost of ending work in process inventory	$        507	$            232	$      739
	Materials	Conversion	Total
Cost of beginning work in process inventory	$     2,900	$            700	$   3,600
Cost of completed beginning work in process inventory	$        871	$            920	$   1,791
Cost of remaining units produced and transferred	$   31,460	$      19,360	$ 50,820
Cost of the units transferred to the next department	$   35,231	$      20,980	$ 56,211

W.N

	Materials	Conversion	Total
Cost of ending work in process inventory	=390*1.3	=290*0.8	=SUM(C3:D3)
	Materials	Conversion	Total
Cost of beginning work in process inventory	2900	700	=SUM(C7:D7)
Cost of completed beginning work in process inventory	=670*1.3	=1150*0.8	=SUM(C8:D8)
Cost of remaining units produced and transferred	=(25800-1600)*1.3	=(25800-1600)*0.8	=SUM(C9:D9)
Cost of the units transferred to the next department	=SUM(C7:C9)	=SUM(D7:D9)	=SUM(E7:E9)