Process $($dyes$)$ and at the end of the paokaging

$($Click the icon to view the data from May.$)$

$($Click the icon fo view the assignment of costs.$)$

Conversion conts are added evenly throughout each process. The company uses the weighted$-$average method

Read the reavitements.

Nech prepare the journal entry to record the costs of the gallons completed and transferred out to the Paclaging Department.

$\backslash$table$[[$Date$,,$Accounts,Debit,Credit,$],[$May $31,,,,,],[,,,,,],[,,,,,],[,,,,,]]$

Requirement $2.$ Post the journal entries to the Work$-$in$-$Process Inventoy Elending Traccount. What is the ending balance?

Post the entries using the appropriate descriptions as posting references. Denote the ending balance as "Bal"

$\backslash$table$[[$Work$-$in$-$Process Imentory$-$Elending,,,$],[,,,]]$

Requirement $3.$ What is the average cost per gallon transterted out of the Blending Departmert into the Packaging Department? Why would the company managers want to know this cost?

Determine the formula, then enter the amounts to calculate the average cost per gallon transterred out of the Blending Department. $($Round your answer to the nearest oent.$)$

Why would the company managers want to know this cost?

A$.$ Managers use the cost per gallon for extemal financial reporting specifically to caloulate the ending inventory balances on the Balance Sheet

B$.$ Managers use the cost per gallon for extemal financial reporting specifically to calculate the Cost of Goods Sold on the income Statement.

D$.$ All of the above are reasons why management would be interested in this cost per unit for gallons completed and transferred out to Finished Goods Inventory.