22. 5 parts

Paint by Number prepares and packages paint products. Paint by Number has two departments: Paint by Number completed the following production cost report for its Elending Elending and Packaging. Direct materials are added at the beginning of the blending prosess Department for the month of May: (dyes) and at the end of the packaghe procens (cars). Dasa from the month of May for the (Cick the icen to view the sssignment of costs.) Blonding Department are as follows. (Cick the icon to view the data from Maye) Conversion costs are added evenly throughout each process. The company uses the weighted-average method. Read the requirements. Requirement 1. Prepare the joumal entres to record the assignment of direct materials and direct labor and the allocation of manutacturing ovechead to the Blending Department. Aise, prepare the joumal entry to record the costs of the galions completed and transferred out to the Packaging Department. Assume labor costs are accrued and not yet paid. (Record debits tirat, then ceedita. Exctude explanatons from any journal ertries.) Begin with the summary pournal entry to record the asrignment of direct materials and direct labor and the alocation of marutacturing overhead to the Blencing Department. Data table Reference Requirements 1. Prepare the journal entries to record the assignment of direct materials and direct labor and the allocation of manufacturing overhead to the Blending Department. Also, prepare the journal entry to record the costs of the gallons completed and transferred out to the Packaging Department. Assume labor costs are accrued and not yet paid. 2. Post the journal entries to the Work-in-Process Inventory-Blending T-account. What is the ending balance? 3. What is the average cost per gallon transferred out of the Blending Department into the Packaging Department? Why would the company managers want to know this cost