Answered step by step
Verified Expert Solution
Question
1 Approved Answer
My answers so far and the other possible answers in the dropbox: Please help me with my HW and understanding of the subject by 1.
My answers so far and the other possible answers in the dropbox:
Please help me with my HW and understanding of the subject by
1. Identifying which answers of mine are right or wrong
2. If wrong then why?
3. The correct numbers to input in the other boxes
Gallons: 0 8,840 gallons Beginning work in process inventory Started production Completed and transferred out to Packaging in May Ending work in process inventory (40% of the way through the blending process) Costs: 6,440 gallons 2,400 gallons 0 Beginning work in process inventory Costs added during May: Direct materials (dyes) 5,304 Direct labor 750 1470 8,840 gallons 6,440 gallons Started production Completed and transferred out to Packaging in May Ending work in process inventory (40% of the way through the blending process) Costs: 2,400 gallons $ 0 Beginning work in process inventory Costs added during May: Direct materials (dyes) 5,304 Direct labor 750 Manufacturing overhead 1,470 $ 7,524 Total costs added during May i - X Requirements 1. Fill-in the time line 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 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? Requirement 2. Summarize the physical flow of units and compute total equivalent units for direct materials and for conversion costs. (For entries with a 0 balance, make sure to enter "0" in the appropriate column.) Blending Department Equivalent Unit Computation Month Ended May 31 Flow of Equivalent Units Direct Conversion Physical Flow of Production Units Materials Costs Units to account for: Beginning work in process, May 1 Plus: Ending work in process, May 31 Total physical units accounted for Units accounted for: Beginning work in process, May 1 Plus: Ending work in process, May 31 Units to account for: Beginning work in process, May 1 Plus: Ending work in process, May 31 Total physical units accounted for Units accounted for: Beginning work in process, May 1 Plus: Ending work in process, May 31 III Total physical units to account for Total equivalent units Units to account for: Beginning work in process, May 1 Beginning work in process, May 1 Completed and transferred out Ending work in process, May 31 Started in production during May Total physical units accounted for Total physical units to account for IN Total equivalent units Units to account for: Beginning work in process, May 1 Plus: Ending work in process, May 31 Plus: Beginning work in process, May 1 Plus: Ending work in process, May 31 Plus: Started in production during May Pius: Ending work in process, vay 31 Total physical units to account for Total equivalent units Units to account for: Beginning work in process, May 1 Plus: Ending work in process, May 31 Total physical units accounted for Beginning work in process, May 1 Completed and transferred out Ending work in process, May 31 Started in production during May Total physical units accounted for Total physical units to account for I NI Choose from any list or enter any number in the input fields and then click Check Answer. Units accounted for: Beginning work in process, May 1 Beginning work in process, May 1 Completed and transferred out Ending work in process, May 31 Started in production during May Total physical units accounted for Total physical units to account for input fields and then click Check Answer. Units accounted for: Beginning work in process, May 1 Plus: Ending work in process, May 31 Plus: Beginning work in process, May 1 Plus: Ending work in process, May 31 Plus: Started in production during May Cmouse on any IST UT ETTEI any number in uie input fields and then click Check Answer. Units to account for: Beginning work in process, May 1 Completed and transferred out Ending work in process, May 31 Started in production during May Total physical units accounted for Total physical units to account for Total physical units to account for MT Total equivalent unitsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started