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Crefty Paint prepares and packages paint products. The conpary has two departmenta: (1) Blending and...

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Accounting

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Crefty Paint prepares and packages paint products. The conpary has two departmenta: (1) Blending and (2) Packaging. Direct matotals are added at tho begirring of the biondirg process (dyes) and at the end of the packaging process (cans). Convecsion costs are added evenly troughout each process. Dsta from the month of May for the Blending Departinert are as follows: Reaulrement 1. Filin the time line for the Blendina Deostment. Data table Requirements 1. Fill-in the time line for the Blending Department. 2. Summarize the physical flow of units and compute total equivalent units for direct materials and for conversion costs. 3. Summarize total costs to account for and find the cost per equivalent unit for direct materials and conversion costs. 4. Assign total costs to units (gallons): a. Completed and transferred out to the Packaging Department b. In the Blending Department ending work in process inventory 5. What is the average cost per gallon transferred out of the Blending Department to the Packaging Department? Why would the company's managers want to know this cost

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