Question 1-Process Costing (Weighted-Average Method): Partners in Crime Paint Company uses the weighted-average method to account for costs of production in its process costing system. Partners in Crime manufactures its base paint in two separate departments: Mixing and Packaging. The following information is for the Mixing Department (the first production department in its production process) for the month of March:

	Units (gallons)					Percent Complete with Respect to DM	Percent Complete with Respect to Conversion Costs (DL+OH)
Beginning work in process inventory		35,000				100%		75%
Units started during March		97,000
Units completed and transferred to the Packaging Department during March		80,000				100%		100%
Ending work in process inventory		52,000				80%		60%

The accounting records for the Mixing Department indicate the following additional information:

• Costs in beginning WIP Inventory-Mixing Department totaled $62,696, broken down as follows:
  • $32,112 in DM costs
  • $30,584 in conversion costs
• Costs incurred during the month of March for the Mixing Department totaled $394,000, broken down as follows:
  • $250,000 in actual DM costs
  • $144,000 in conversion costs ($60,000 in DL costs; $84,000 in applied OH costs (applied based on 140% of DL costs))

PART C Balance Sheet accounts, ending balances: Using all of the information given above, determine the March 31^st ending balances of each the firms inventory accounts listed below. You must show all of your work, either using formulas/calculations or T-accounts.

1. Raw Materials Inventory account (Assume the beginning balance of the raw materials inventory account as of March 1^st was $11,450).
2. WIP Inventory Mixing (Assume the beginning balance of WIP-Mixing is $62,696, as given in the information above).
3. WIP Inventory Packaging (Assume the beginning balance of WIP-Packaging is $41,008).
4. Finished Goods Inventory (Assume the Finished Goods Inventory balance as of March 1^st was $29,440).