Color Explosion prepares and packages paint products. Color Explosion has two departments Blending and Packaging Direct materials are added at the beginning of the blanding process (yes) and at the end of the packaging process (can). Data from the month of May for the Blonding Department are as follows Click the icon to view the data from May.) Color Explosion completed the following production cost report for the Blending Department for the month of May Click the loon to view the assignment of cos) Conversion costs are added every throughout each process. The company was the druge method Requirement 1. Prepare the journal entries to record the assignment of direct materials and direct labor and the location of manufacturing overhead to the Blending Department. Also, prepare the pumal try to record the cours of the store completed and transferred out to the Packaging Department. Assume labor costs are accrued and not yet paid. Record orbits first, then crons Exclude explanations from any journalis) Begin with the summary joumal entry to record the musignment of direct materials and direct labor and the allocation of manufacturing overhead to the Blending Department Date Accounts Debat Credit May 31 plosion has two departments: Blending and Packaging. ess (dyesland at the end of the nackanina procese Color Explosion completed the following production costre ts.) are as i Data Table ch proce Gallons ment of sume la ment. Also ny journal f direct O gallons 8,500 gallons 6,500 gallons 2,000 gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) Costs Beginning Work-in-Process Inventory Costs added during May Direct materials $ 0 5,525 Direct labor Manufacturing overhead allocated 1,500 2,547 Total costs added during May 9,572 Print Done and theronor OTCOM Clear All Or EX repor proce ment Reference Cess. sign .. Ass iso, pr hal ent ento Total Costs $ 0 Color Explosion Production Cost Report - Blending Department (Partial) Month Ended May 31 Direct Conversion COSTS Materials Costs Costs to account for: Beginning work-in-process 0 $ 0 $ Costs added during the period 5,525 4,047 Total costs to account for 5,525 4,047 Divided by: Total EUP 8,500 7,100 0.65 $ 0.57 Cost per equivalent unit Costs accounted for Completed and transferred out 4,225 $ 3,705 $ Ending work-in-process 1,300 342 $ 5,525 $ Total costs accounted for 4,047 $ 9,572 9,572 7,930 1,642 9,572 elds Print Done Clear All