Gallons: Beginning work in process inventory Started production Completed and transferred out to Packaging in May Ending work in process inventory ( 30% of the way through the blending process) blending process) Costs: Beginning work in process inventory Costs added during May: Direct materials (dyes) Direct labor Manufacturing overhead Total costs added during May Requirement 2. Summarize the physical flow of units and compute total equivalent units for direct materials and for conversion c balance, make sure to enter " 0 " in the appropriate column.) Blending Department nate cim Requirement 3. Summarize total costs to account for and find the cost per equivalent unit for direct materials and for conv balance, make sure to enter " 0 " in the appropriate cell(s). Enter the cost per equivalent unit to two decimal places.) Requirement 4. Assign total costs to units (gallons): (a) Completed and transferred out to the Packaging Department and ending work in process inventory. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calc Requirement 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? First, identify the labels to compute the average cost per gallon transferred out, then compute the average cost per gallon transferred out of the Blanding Department to the Packaging Department. (Round your answer to two decimal places.) Why would Paint My World's managers want to know this cost? They may also use the cost information when Managers will want to know this cost to compare it to theif