Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Department ending Work-in-Process Inventory.Complete the Production Cost Report that you began in Requirement 1 by calculating the costs per equivalent unit in this step, and then by calculating the the total cost of units completed and transferred out and of units in ending inventory in the following step. (Complete all input fields. Enter a "0" for any zero balances. Round the cost per equivalent unit amounts to the nearest cent and all other amounts to the nearest dollar. Abbreviation used: EUP = equivalent units of production.) You're an Artist prepares and packages paint products. You're an Artist has two departments: Blending and Packaging. Direct materials areadded at the beginning of the blending process (dyes) and at the end of the packaging process (cans). Conversion costs are added evenlythroughout each process. The company uses the weighted-average method. Data from the month of May for the Blending Department are asfollows:(Click the icon to view the data from May.)Read the requirements.COSTSCosts to account for:You're an ArtistProduction Cost Report - Blending Department (Partial)Month Ended May 31Total costs to account for...Cost per equivalent unitDirectMaterialsConversionCostsTotalCosts Data tableGallonsBeginning Work-in-Process InventoryStarted in productionCompleted and transferred out to Packaging in MayEnding Work-in-Process Inventory (30% of the waythrough the blending process)CostsBeginning Work-in-Process InventoryCosts added during May:Direct materialsDirect laborManufacturing overhead allocatedTotal costs added during MayPrintDone0 gallons9,900 gallons5,800 gallons4,100 gallons$$4,9501,9129007,762

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Description: Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Department ending Work-in-Process Inventory.Complete the Production Cost Report that you began in Requirement 1 by calcu

The equivalent units are calculated on the basis of percentage of the work completed during the…

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4BE: The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory...

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Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Department ending Work-in-Process Inventory. Complete the Production Cost Report that you began in Requirement 1 by calculating the costs per equivalent unit in this step, and then by calculating the the total cost of units completed and transferred out and of units in ending inventory in the following step. (Complete all input fields. Enter a "0" for any zero balances. Round the cost per equivalent unit amounts to the nearest cent and all other amounts to the nearest dollar. Abbreviation used: EUP = equivalent units of production.)

You're an Artist prepares and packages paint products. You're an Artist has two departments: Blending and Packaging. Direct materials are
added at the beginning of the blending process (dyes) and at the end of the packaging process (cans). Conversion costs are added evenly
throughout each process. The company uses the weighted-average method. Data from the month of May for the Blending Department are as
follows:
(Click the icon to view the data from May.)
Read the requirements.
COSTS
Costs to account for:
You're an Artist
Production Cost Report - Blending Department (Partial)
Month Ended May 31
Total costs to account for
...
Cost per equivalent unit
Direct
Materials
Conversion
Costs
Total
Costs

Data table
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
Print
Done
0 gallons
9,900 gallons
5,800 gallons
4,100 gallons
$
$
4,950
1,912
900
7,762

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