You Can Paint Too completed the following production cost re ducts. You Can Paint Too has two departments: Blending and ng of the blending procese ldveel and at the end of the packaging lending Departmer 0 Data Table - ach process. ment. Also, pr ny journal ent the assignment of martment. Assume la assignment of direct 0 gallons 9,000 gallons 4,000 gallons 5,000 gallons Gallons 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 Total costs added during May $ 0 6,750 1,300 2,000 10,050 $ Print Done the input fields and the room Clear All v ost report for its Blend Ets. You of the ble ding Ded i Reference pess. The company us e assign ment. Ass Iso, prepare the journ hal entries.) gnment o Total Costs 10,050 You Can Paint Too Production Cost Report - Blending Department (Partial) Month Ended May 31 Direct Conversion COSTS Materials Costs Costs to account for: Beginning work-in-process 0$ 0$ 6,750 3,300 Costs added during the period Total costs to account for 6,750 3,300 9,000 5,500 Divided by: Total EUP 0.75 $ 0.60 Cost per equivalent unit Costs accounted for: : 3,000 $ 2,400 $ Completed and transferred out 3,750 900 Ending work-in-process 6.750 $ 3,300 $ Total costs accounted for 10,050 5,400 4,650 10,050 Print Done put fields Clear All products. You Can Paint Too has two departments: Blending and nning of the blending process (dyes) and at the end of the packaging e Blending Department are as follows: You Can Paint Too completed the following production cost (Click the icon to view the assignment of costs.) Conversion costs are added evenly throughout each proces Read the requirements. 02 A Requirements - X ord the assignment of dire epartment. Assume labor partment. Also m any journal e assignment of direct mat 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 e input fields and then click Check Answer. E18-22 (similar to) You Can Paint Too prepares and packages paint products You Can Part Too has two department ending and Packaging Direct materials are added at the beginning of the binding pro d ys) and of the end of the packaging process cans) Data from the month of May for the Blending Department are as follows: Cho the icon to the from May ) You Can Paint Too completed the following production cost report foris Blending Department for the month of May Click the icon to view the rest of costs) Corroncosts are added evenly thoughout each process. The company was the damage had Read the are he r e to record the cost of the Requirement 1. Prepare the journal entries to record the assignment of direct materials and director and the location of manufacturing overhead to the Bending Department comed and tried to the Packaging Department Amelaborare crued and not yet po r enc o re tomory Begin with the summary ouma entry to recorde m ent of directors and director and the location of manufacturing overhead to the branding Department Check Arewer Choose from any for enter any number in the input fields and then chok Check rower 4
