Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Requirement 1: Compute the Blending Departments equivalent units of production for direct materials and for conversion costs Requirement 2 : Compute the total costs of

Requirement 1: Compute the Blending Departments equivalent units of production for direct materials and for conversion costs
Requirement 2 : Compute the total costs of the units (gallons) completed and transfered out to the Packaging Department, and in the Blending Department ending work-in- process inventory
image text in transcribed
image text in transcribed
image text in transcribed
Lint My World prepares and packages paint products. Paint My World has two departments: Blend ckaging process (cans). Conversion costs are added evenly throughout each process. The compa (Click the icon to view the data from May.) ead the requirements Paint My World Production Cost Report - Blending Department (Partial) Month Ended May 31 Equivalent Units Direct Physical Conversion Materials Costs Units UNITS Units to account for: Beginning work-in-process C 9900 Started in production 9900 Total units to account for Units accounted for: Completed and transferred out 5800 5800 5800 Ending work-in-process 4100 4100 1230 Choose from any list or enter any number in the input fields and then continue to the next question. Gallons Beginning Work-in-Process Inventory 0 gallons Started in production 9,900 gallons Completed and transferred out to Packaging in May 5,800 gallons Ending Work-in-Process Inventory (30% of the way through 4,100 gallons the blending process) Costs Beginning Work-in-Process Inventory Costs added during May: Direct materials 4,950 Direct labor 1,912 900 Manufacturing overhead allocated 7,762 Total costs added during May 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 Costs added during the period 4950 2812 7762 Total costs to account for 4950 2812 7762 Divided by: Total EUP 9900 7030 Cost per equivalent unit 0.50 0.40 Costs accounted for: Total costs accounted for Choose from any list or enter any number in the input fields and then continue to the next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Safety Audit Designing Effective Strategies

Authors: Roger Saunders

1st Edition

0273034480, 978-0273034483

More Books

Students also viewed these Accounting questions

Question

1. Discuss the four components of language.

Answered: 1 week ago

Question

a. How many different groups were represented?

Answered: 1 week ago