You Can Paint Too prepares and packages paint products. You Can Paint Too 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). Data from the month of May for the Blending Department are as follows: E (Click the icon to view the data from May.) You Can Paint Too completed the following production cost report for its Blending Department for the month of May: (Click the icon to view the assignment of costs) Conversion costs are added evenly throughout each process. The company uses the weighted-average method. Read the reguirements 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 summary journal entry to record the assignment of direct materials and direct lab - X O Reference Date Accounts Debit Cr Data Table May 31 You Can Paint Too Production Cost Report - Blending Department (Partial) Gallons Month Ended May 31 Beginning Work-in-Process Inventory O gallons Next, prepare the journal entry to record the costs of the gallons completed and transferred out t Direct Conversion Total Started in production 9,500 gallons COSTS Materials Costs Costs Date Accounts Debit Cr Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) 6,000 gallons Costs to account for. . May 31 Beginning work-in-process OS 3,500 gallons Costs added during the period 5,700 4,089 9,789 Costs Beginning Work-in-Process Inventory Costs added during May: Total costs to account for 5,700 4,089 9,789 9,500 7,050 Divided by: Total EUP Requirement 2. Post the journal entries to the Work-in-Process Inventory-Blending T-account Direct materials 5,700 0.60 S 0.58 Cost per equivalent unit Post the entries using the appropriate descriptions as posting references. Denote the ending bal Direct labor 2.085 Costs accounted for. 2,004 Work-in-Process Inventory-Blending Manufacturing overhead allocated Completed and transferred out 3,600 S 3,480 S 7,080 9,789 Beg. Bal. 2,100 609 2,709 Total costs added during May Ending work-in-process 5,700 S 4,089 $ 9,789 Total costs accounted for Print Done Print Done