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Please answer all requirements and I will like. Thank you! Paint by Number prepares and packages paint products. The company has two departments (1) Blending
Please answer all requirements and I will like. Thank you!
Paint by Number prepares and packages paint products. The company has two departments (1) Blending and (2) Packaging Direct materials are added at the beginning of the blonding process days) and at the end of the packaging process (cans). Conversion costs are added evenly thoughout each process. Data from the month of May for the Blending Department are os follows Click the icon to view the data from May) Read the fecutumunta Requirement 2. Summange 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 in the appropriate column) Blending Department Equivalent Unit Computation Month Ended May 31 Flow of Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Units to account for Deonning work in process May 1 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? - Data Table Gallons: 0 Beginning work in process inventory Started production Completed and transferred out to Packaging in May.... Ending work in process inventory (30% of the way through the blending process) 9,700 gallons 6,800 gallons 2,900 gallons Costs: $ 0 Beginning work in process inventory Costs added during May: Direct materials (dyes) 5,820 Direct labor.. 1,000 Data Table Started production Completed and transferred out to Packaging in May... Ending work in process inventory (30% of the way through the blending process) 9,700 gallons 6,800 gallons 2,900 gallons Costs: $ 0 Beginning work in process inventory Costs added during May: Direct materials (dyes) 5,820 Direct labor.. I I. 1,000 1,301 Manufacturing overhead Total costs added during May $ 8,121 Step by Step Solution
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