Paint My World Production Cost Report - Blending Department (Partial) Month Ended May 31 Direct Conversion Total COSTS Materials Costs Costs Costs to account for: Beginning work-in-process $ 0 $ 0 $ 4,620 Costs added during the period 4,048 8,668 Total costs to account for 8,668 4,620 6,600 4,048 5,060 Divided by: Total EUP $ 0.70 $ 0.80 Cost per equivalent unit Costs accounted for: Completed and transferred out $ 3,520 $ 3,080 $ 1,540 6,600 2,068 528 Ending work-in-process $ 4,620 $ 4,048 $ 8,668 Total costs accounted for Gallons O gallons 6,600 gallons 4,400 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) Costs Beginning Work-in-Process Inventory Costs added during May: 2,200 gallons $ 0 Direct materials 4,620 Direct labor 2,500 1,548 Manufacturing overhead allocated $ Total costs added during May 8,668 Paint My World prepares and packages paint products. Paint My World has two departments: Blending and Packaging. Direct materials are added at the beginning of the blending process (dyes) and at the end of the packaging process (cans). Data from the month of May for the Blending Department are as follows: (Click the icon to view the data from May.) Paint My World completed the following production cost report for its Blending Department for the month of May: (Click the icon to view the assignment of costs.) Conversion costs are added evenly throughout each process. The company uses the weighted-average method. Read the requirements. Requirement 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. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin with the journal entry to record the assignment of direct materials to the Blending Department. Do not record the assignment of direct labor or the allocation of manufacturing overhead with this entry. We will prepare those entries separately in the following steps. Date Accounts Debit Credit May 31 4,620 Work-in-Process InventoryBlending Raw Materials Inventory 4,620 Prepare the journal entry to record the assignment of direct labor to the Blending Department. Assume labor costs are accrued and not yet paid. Date Accounts Debit Credit May 31 Work-in-Process InventoryBlending