Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

*Must be done in Excel. Preferably with the steps with how you got the answer. Thank you. The Bright Day Paint Company prepares and packages

*Must be done in Excel. Preferably with the steps with how you got the answer. Thank you.

image text in transcribed

image text in transcribed

The Bright Day Paint Company prepares and packages paint products. The company has two departments: (1) Blending and (2) Packaging. Direct materials are added at the beginning of the blending process (dyes) and at the end of the packaging process (cans). Conversion costs are incurred evenly throughout each process. Data from the month of June for the Blending Department are as follows: 0 9,600 gallons 6,800 gallons 2,800 gallons Gallons: Beginning work in process inventory Started production Completed and transferred out to Packaging in June .... Ending work in process inventory (45% of the way through the blending process) Costs: Beginning work in process inventory Costs added during June: Direct materials (dyes) Direct labor Manufacturing overhead Total costs added during June $ 0 $6,240 950 1,871 $9,061 Requirements 1. Fill in the timeline for the Blending Department. 2. Summarize the physical flow of units and compute total equivalent units for direct materials and for conversion costs. 3. Summarize total costs to account for and find the cost per equivalent unit for direct materials and for conversion costs. 4. Assign total costs to units (gallons): a. Completed and transferred out to the Packaging Department b. In the Blending Department ending work in process inventory 5. What is the average cost per gallon transferred out of the Blending Department to the Packaging Department? Why would the company's managers want to know this cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Finance A Practical Perspective

Authors: Adrian Buckley

1st Edition

0273731866, 9780273731863

More Books

Students also viewed these Accounting questions

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago