Concord Paints makes various interior and exterior paints for its customers, but its current focus is on its top$-$selling interior brand.

Concord produces the paint in its mixing department and then transfers the paint to the canning department. The following

information is presented for the canning department in March, recognizing that the company adds its conversion costs evenly

throughout the process. One unit is one gallon of paint.

$($a$)$

Your answer is partially correct.

Complete Steps $1-5$ of the template for the canning department of Concord Paints this year using the weighted$-$average method

of process costing, clearly labeling the following. $($Round cost per equivalent unit answers to $2$ decimal places, es$.15\mathrm{.}25)$

Equivalent units of production for all three cost categories: transferred$-$in$,$ DM$,$ and conversion costs.

The cost per equivalent unit for all three cost categories: transferred$-$in$,$ DM$,$ and comersion costs.

The total cost of units completed and the total cost of units in ending WIP Inventory.

Total cost of units completed

Cost of units in ending WIP Inventory $

Your answer is partially correct.

Record the journal entry for each of the following transactions. $($Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occount titles and enter O for the amounts. List all debit

entries before credit entries.$)$

Transfer of paint into the canning process in March.

Completion of canning of $41,800$ gallons of paint in March.

No$.$ Account Titles and Explanation

Debit

Credit

Total equivalent units of

work done

Cost per equivalent unit

$3$

s

$s$

WiP Imventory$-$Canning

WiP Imventory $-$ Mixing

FG inventory

WiP Imventory$-$Canning

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