UUUIL.UUUU, 2.41 UI EM3-22 (similar to) Question Help Paint by Number prepares and packages paint products. Paint by Number has two Paint by Number completed the following production cost report for its Blending departments: Blending and Packaging Direct materials are added at the Department for the month of May beginning of the blending process (dyes) and at the end of the packaging process (Click the icon to view the assignment of costs.) (cans). Data from the month of May for the Blending Department are as follows: Click the icon to view the data from May. Conversion costs are added evenly throughout each process. The company uses the weighted average method. Read the requirements Requirement 1. Prepare the journal entries to record the assignment of direct materials and direct labor and the allocation of manufacturing overhead to the Blending Department. Also, prepare the journal entry to record the costs of the gallons completed and transferred out to the Packaging Department. Assume labor costs are accrued and not yet paid. (Record debits first, then credits. Exclude explanations from any journal entries) Begin with the journal entry to record the assignment of direct materials to the Blending Department. Do not record the assignment of direct labor or the allocation of manufacturing overhead with this entry. We will prepare those entries separately in the following steps Date Accounts Debit Credit May 31 Choose from any list or enter any number in the input fields and then click Check Aliswer. 6 parts remaining Clear All Check Answer HD tv 0 Data Table posts.) rocess (d h of May the data fo ut each process. The Gallons ne journal the journa Record de O gallons 6,600 gallons 4,400 gallons ufacturing overhead rtment. Assume labo to record ith this ent 2,200 gallons of direct labor or the Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) Costs Beginning Work-in-Process Inventory Costs added during May: Direct materials Direct labor Manufacturing overhead allocated 0 4,620 2,500 1,548 $ 8,668 Total costs added during May Print Done enter any Clear All Check Answe Ss. The Paint by Number Production Cost Report - Blending Department (Partial) Month Ended May 31 Direct Conversion Total rhead me lab Materials COSTS Costs Costs Costs to account for: $ 0 or or the 0 $ 4,620 0 $ 4,048 8,668 8,668 4,620 6,600 4,048 5,060 Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process $ 0.70 $ 0.80 $ 3,080 $ 1,540 3,520 $ 528 6,600 2,068 $ $ 4,620 $ 4,048 $ 8,668 Total costs accounted for Print Done | Ansy May.) Conversion costs are added evenly throughou Requirements 1. Prepare the journal entries to record the assignment of direct materials and direct labor and the allocation of manufacturing overhead to the Blending Department. Also, prepare the journal entry to record the costs of the gallons completed and transferred out to the Packaging Department. Assume labor costs are accrued and not yet paid. 2. Post the journal entries to the Work-in-Process Inventory-Blending T-account. What is the ending balance? 3. What is the average cost per gallon transferred out of the Blending Department into the Packaging Department? Why would the company managers want to know this cost? Print Done