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Current Attempt in Progress Coronado Paints makes various interior and exterior paints for its customers, but its current focus is on its top selling interior
Current Attempt in Progress Coronado Paints makes various interior and exterior paints for its customers, but its current focus is on its top selling interior brand. Coronado 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 comersion costs eventy throughout the process. One unit is one gallon of paint. Complete Steps 1-5 of the template for the canning department of Coronado Paints this year using the FifO method of process costing. clearly labeling the fol pwing. (Round cost per equholent unit answers to 2 decimal ploces, es. 15.25) 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 conversion costs - The totai cost of units completed and the total cost of units in ending WiP Imentory. 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 account tities and enter Ofor the amounts. List oll debit entries before credit entries) 1. Transfer of paint into the canning process in March. 2. Completion of canning of 47.600 gallons of paint in March
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