Question

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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 Materials Direct labor Overhead March 31 balance Work in Process-Refining Department 32,000 Completed and transferred to Blending 147,600 80,200 485,000 ?

Answer 1

General Journal Credit Transactions Debit Work in Procey-Refining Department $147,600 Work in Process - Blending Department $ 45,000 Raw Materials (to record insuance of raw materials) $ 192,600 bi Work is Process - Refining Department $80,200 Work in Process - Blending Department $17,900 Salaries and wages Payable $ 98,100 Go second aliselt labor cost incurred) $ 626,000 Manufacturing Overhead $626,000 Accounts Payable (to record manufacturing expenses aly Work in Process-Refining Department $485,000 Manufacturing Overhead Ho record overhead cost applied) $ 485,000 0433 work in Procey - Blending Department $100,000 manufacturing Overhead $108,000 He second oves head cost applied)

$672,000 Work in proces- Blending Department $672000 Work in Process - Refining Department Mo second transfer of semifinished units) finished Goods $710,000 work in Process - Blending Department Ho recond transfer of completed units) f $710,000 9(1) Accounts Receivable Sales (to second sales on account) $1,420,000 $1,420,000 g 962) Cost of Goods Hold finished Goods (to record cost of goods sold) $660,000 $ 660,000 رق Accounts Receivable 199 $1,420,000 Raw Materials Beg Bal: $205,600 (a, $192,600. Endi bat $13,000

Work in Process Refining Department Beg Bal $32,000 cas $147,600 000 $672000 ( $80,200 $485,000 Work in Process Blending department Beg Balo &58,000 $45,000 of $710,000 (6) $ 17,900 cd, $100,000 $672000 رط ری End Bali $72,800 End. Bat. 1 $ 190,9001 finished Goods Beg Bal- $23,000 $710,ooo g) $660,000 Manufacturing overhead $626,000 (d, $593,000 End. Bale $33,000 End. Bal. $ 73,000 Accounts payable $ 626,000 Salaries and wages Payable by $ 98,100 Cost of Goods sold Sales gs $1,420,000 legs $6 60,000 Calculation : ds Manufacturing Overhead = (Manufacturing Overhead Refining Department & manufacturing overhead Blending Department) $485,000 + $168,00 $593,000