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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 Data Table Equivalent Units Physical Direct Conversion Gallons UNITS Units Materials Costs Beginning Work-in-Process Inventory O gallons Units to account for: Started in production 8,500 gallons Completed and transferred out to Packaging in May 6,500 gallons Ending Work-in-Process Inventory (30% of the way through the blending process) 2,000 gallons Total units to account for Costs Beginning Work-in-Process Inventory 2$ Units accounted for: Costs added during May: Direct materials 5,525 Direct labor 1,500 2.547

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 Data Table Equivalent Units Physical Direct Conversion Gallons UNITS Units Materials Costs Beginning Work-in-Process Inventory O gallons Units to account for: Started in production 8,500 gallons Completed and transferred out to Packaging in May 6,500 gallons Ending Work-in-Process Inventory (30% of the way through the blending process) 2,000 gallons Total units to account for Costs Beginning Work-in-Process Inventory 2$ Units accounted for: Costs added during May: Direct materials 5,525 Direct labor 1,500 2.547

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 3, Part 1

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. Data Table ITIUTLIT LITUGU IMIay Equivalent Units Physical Direct Conversion Gallons UNITS Units Materials Costs Beginning Work-in-Process Inventory O gallons Units to account for: Started in production 8,500 gallons Completed and transferred out to Packaging in May 6,500 gallons Ending Work-in-Process Inventory (30% of the way through the blending process) 2,000 gallons Total units to account for Costs Beginning Work-in-Process Inventory $ Units accounted for: Costs added during May: Direct materials 5,525 Direct labor 1,500 Total units accounted for 2,547 Manufacturing overhead allocated $ 9,572 Total costs added during May Choose from any list or enter any number in the input fields and then click Check Answer. (?
Transcribed Image Text: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. Data Table ITIUTLIT LITUGU IMIay Equivalent Units Physical Direct Conversion Gallons UNITS Units Materials Costs Beginning Work-in-Process Inventory O gallons Units to account for: Started in production 8,500 gallons Completed and transferred out to Packaging in May 6,500 gallons Ending Work-in-Process Inventory (30% of the way through the blending process) 2,000 gallons Total units to account for Costs Beginning Work-in-Process Inventory $ Units accounted for: Costs added during May: Direct materials 5,525 Direct labor 1,500 Total units accounted for 2,547 Manufacturing overhead allocated $ 9,572 Total costs added during May Choose from any list or enter any number in the input fields and then click Check Answer. (?
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