Paint by Number prepares and packages para products thy Number has two parte ding and Packaging Direct materials are added at the beginning the ending process (yes) and at the end of the packaging process cana) Data from the math of May for the ending Departments (Click the icon to view the data May) and hy in the honden we met w IC View the men of Cowe ed evenly The company we w w Ratha Requirement 1. Prepare the journal is to record the assignment of dramature and direct loborandre son marveturing verted to newpoint present recondi e com of the gallos completed and transferred out to the Packaging Department Assume Worce are one and wo yo pale Records in the crediti Economy Begin with the stary Jumal entry to record the time of direct materials and director and the location of mandatering over Beding Depart Date Account Cred May 31 Work in Process inventory--Blending Raw Materials inventory 4556 ata table 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) 0 gallons 9,900 gallons 5,800 gallons 4,100 gallons Costs $ 0 Beginning Work-in-Process Inventory Costs added during May Direct materials 4,950 Direct labor 1.912 900 Manufacturing overhead allocated $ 7.762 Total costs added during May -> Reference Month Ended May 31 Direct Materials Conversion Total COSTS Costs Costs Costs to account for: $ Beginning work-in-process Costs added during the period Total costs to account for 0 $ 4,950 0 $ 2,812 7,762 7,762 4,950 9,900 2,812 7,030 Divided by Total EUP $ 0.50 $ 0.40 Cost per equivalent unit Costs accounted for Completed and transferred out Ending work-in-process $ 2,900 $ 2.050 2.320 $ 492 5.220 2,542 GA $ 4.950 $ 2,812 $ 7,762 Total costs accounted for Requirements X 1. Prepare the journal entries to record the assignment of direct materials and direct labor and the allocation of manufacturing overhead to the Blending Department. Also, prepare the journal entry to record the costs of the gallons completed and transferred out to the Packaging Department. Assume labor costs are accrued and not yet paid. 2. Post the journal entries to the Work-in-Process InventoryBlending T-account What is the ending balance? 3. What is the average cost per gallon transferred out of the Blending Department into the Packaging Department? Why would the company managers want to know this cost
