Question 3, Part 3. Please answer in same format as question Color Explosion prepares and packages paint products. Color Explosion 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:E (Click the icon to view the data from May.)Read the requirements.Requirement 2. Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Blending 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 thefollowing step. (Complete all input fields. Enter a "0" for any zero balances. Round the cost per equivalent unit amounts to ient units of production.)Data TableColor ExplosionProduction Cost Report - Blending Department (Partial)Month Ended May 31GallonsDirectConversionTotalBeginning Work-in-Process InventoryO gallonsCOSTSMaterialsCostsCostsStarted in production8,500 gallonsCosts to account for:Completed and transferred out to Packaging in May6,500 gallonsEnding Work-in-Process Inventory (30% of the waythrough the blending process)2,000 gallonsTotal costs to account forCostsBeginning Work-in-Process Inventory$Costs added during May:Choose from any list or enter any number in the input fields and then click Check Answer.materials5,525Direct labor1,500partremainingCleheck Answer2,547Manufacturing overhead allocated Month Ended May 31Equivalent UnitsPhysicalDirectConversionUNITSUnitsMaterialsCostsUnits to account for:Beginning work-in-processStarted in production8,5008,500Total units to account forUnits accounted for:Completed and transferred out6,5006,5006,500Ending work-in-process2,0002,0006008,5008,5007,100Total units accounted for

The work in process is the inventory that is in the production process and yet not been ready for…

Color Explosion prepares and packages paint products. Color Explosion 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: E (Click the icon to view the data from May.)

Color Explosion prepares and packages paint products. Color Explosion 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: E (Click the icon to view the data from May.)

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 9CE: Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling....

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Step-by-Step Painting prepares and packages paint products. Step-by-Step Painting 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. Requirement 1. Compute the Blending Department's equivalent units of production for direct materials and for conversion costs. (Complete all input fields. Enter a "0" for any zero balances.) Step-by-Step Painting Production Cost Report - Blending Department (Partial) Month Ended May 31 UNITS Units to account for: Total units to account for Units accounted for: Total units accounted for Physical Units Equivalent Units Direct Materials C Conversion Costs Data table Gallons Beginning Work-in-Process…
Question 3, Part 3. Please complete blank sections in same form as question
For all Problems, assume the weighted-average method is to be used unless you are told otherwise. Preparing a production cost report, second department, with beginning WIP and transferred in costs; journal entries; FIFO method Happy Colors manufactures crayons in a three-step process: mixing, molding packaging. The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process. Work in process of the Mixing Department on April 1, 2018, consisted of 300 batches of crayons that were 30% of the way through the production process. The beginning balance in Work-in-Process…
Question 3, Part 1
Computing EUP, assigning costs, no beginning WIP or costs transferred in Color Explosion prepares and packages paint products Color Explosion 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) Conservation 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; Requirements Compute the Blending Departments equivalent units of production for direct materials and for conversion costs. Compute the total costs of the units (gallons) a. completed and transferred out to the Packaging Department. b. in the Blending Department ending Work-in-Process Inventory.
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Dengo Co. makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory.. Units started and completed... Units completed and transferred out... Ending work in process inventory.... [continued on next page] Units 3,000 19,200 22,200 2,400 [continued from previous page] Required Direct Materials Percent Complete 100% 100% Chapter 16 Process Costing and Analysis Conversion Percent Complete 40% 80% Problem 16-7Aª FIFO: Cost per equivalent unit; costs assigned to products C2 Beginning work in process.. Costs added this period Direct materials. Conversion....... Total costs to account for... $248,400 1,082,970 $ 120,870 1,331,370 $1,452,240 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute…
Required information [The following information applies to the questions displayed below.] Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Equivalent units of production (EUP)- FIFO method Units completed and transferred out Ending work in process Units Units 3,500 19,700 23,200 2,900 $ 271,200 1,196,910 Direct Materials Percent Complete 100% 100% Required: 1. Compute equivalent units of production for both direct materials and conversion. Conversion Percent Complete 30% % Added $ 122,270…
Required information [The following information applies to the questions displayed below.] Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Cost per equivalent unit of production Units + Equivalent units of production Cost per equivalent unit of production 3,500 19,700 23, 200 2,900 $ 271,200 1,196,910 Direct Materials Percent Complete 100% Materials 100% Conversion Percent Complete 30% $ 122,270 2. Compute cost per equivalent unit of production for both direct materials and conversion.…