Drawing a time line, computing equivalent units, and assigning cost to completed units a...

Drawing a time line, computing equivalent units, and assigning cost to completed units and ending work in process; no beginning inventory or cost transferred in [20 min]

Paint My World prepares and packages paint products. Paint My World has two departments: (1) Blending and (2) Packaging. Direct materials are added at the beginning of the blending process (dyes) and at the end of the packaging process (cans). Conversion costs arc added evenly throughout each process. Data from the month of May for the Blending Department are as follows:

Requirements

1. Fill in the time line for the Blending Department.

2. Use the time line to help you compute the Blending Department’s equivalent units for direct materials and for conversion costs.

3. 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.