Splish Paints makes various interior and exterior paints for its customers, but its current focus is on its top-selling interior brand. Splish produces the paint in its mixing department and then transfers the paint to the canning department. The following information is presented for the canning department in March, recognizing that the company adds its conversion costs evenly throughout the process. One unit is one gallon of paint. Transferred-In 100% $13,660 $4122 80 Units Units in beginning WI P Inventory 1,700 Beginning WI P Inventory degree of completion Costs in beginning WIP Inventory New units started 44,100 Costs added to WI P Inventory this period Units completed 45,000 Units in ending WI P Inventory 800 Ending WIP Inventory degree of completion {a} 100% DM Conversion Costs 100% 60% $2,000 $ 1,680 $425 00 $8 8,800 0% 30% V Your answer is correct. Complete Steps 15 of the template for the canning department of Splish Paints this year using the weighted- average method of process costing, clearly labelingthe following. [Round cost per equivalent unit answers to 2 decimal places, e.g. 15.25.} I Equivalent units of production for all three cost categories: transferred-in, DM, and conversion costs. I The cost per equivalent unit for all three cost categories: transferred-in, DM, and conversion costs. I The total cost of units completed and the total cost of units in ending WI P Inventory. Transferred-in l'lt nt Total cost of units completed Cost of units in ending WIP Inventory $ DM .1}; .,. 1" z a L] Conversion Cost (b) Record the journal entry for each of the following transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) 1. Transfer of paint into the canning process in March. 2. Completion of canning of 45,000 gallons of paint in March. No. Account Titles and Explanation Debit Credit 1 2. eTextbook and Media List of Accounts Assistance Used Cash DM Inventory FG Inventory MOH Control No Entry RM Inventory Salaries and Wages Payable WIP Inventory WIP Inventory - Assembly WIP Inventory - Bottling WIP Inventory - Canning WIP Inventory - Machining WIP Inventory - Manufacturing WIP Inventory - Melting WIP Inventory - Mixing WIP Inventory - Molding