Paints by Lucy 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 added evenly throughout each process Data from the month of May for the Blending Department are as follows (Click the icon to view the data from May ) Read the requirements Data Table the 0 mel 9.600 gallons 6,800 gallons 2.800 gallons Gallons Beginning work in process inventory Started production Completed and transferred out to Packaging in May Ending work in process inventory (45% of the way through the blending process) Costs Beginning work in process inventory Costs added during May Direct materials (dyes) Direct labor Manufacturing overhead Total costs added during May $ 0 6,240 950 1.871 9 061 Print Done put fields RI are added at the beginning of the -ch process Data from the month of May for the Blending Department are as follows 6 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? Print Done elds and then continue to the next question Requirement 1. Fill-in the time line for the Blending Department Start Complete Complete Choose from any list or enter any number in the input fields and then continue to the next question Read the requirements Requirement 2. Summarize the physical flow of units and compute total equivalent units for direct materials and for conversion costs. (For entries with a balance, make sure to enter "U" in the appropriate column) Blending Department Equivalent Unit Computation Month Ended May 31 Flow or Equivalent Units Physical Direct Conversion Flow of Production Units Materials Gosts Units to account for Choose from any list or enter any number in the input fields and then continue to the next question FOAM Read the requirements Units accounted for: Total equivalent units Requirement 3 Summar Read the requirements Requirement 3. Summarize total costs to account for and find the cost per equivalent unit for direct materials and for conversion costs (For entries with a 50 balance, make sure to enter in the appropriate Enter the cost. per equivalent unit to two decimal places Blending Department Cost per Equivalent Unit Month Ended May 31 Direct Conversion Materials Costs Total Cost per equivalent unit Cost per equivalent unit Requirement 4. Assign total costs to units (gallons) (a) Completed and transferred out to the Packaging Department and (b) In the Blending Department ending work in process inventory (Enter quantities first than the cost per equivalent unit amounts in the same order as calculated in the preceding step) Blending Department Month Ended May 31 Assigning Costs Direct Conversion Materials Total Costs Completed and translerred out: 2 b. Ending work in process: Total costs accounted for Requirement 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? First Identify the labels to compute the average cost per gallon transferred out then compute the average cost per gallon transferred out of the Blending Department to the Packaging Department (Round your answer to two decimal places) Average cost per galon Why would Paints by Lucy's managers want to know this cost? Managers will want to know this cos! compare it to their They may also use the cost Information when 3 Choose from any list or enter any number in the input fields and then continue to the next question A LOS AM 3/26/2021 D