Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) Costs 0 gallons 9,900 gallons 5,800 gallons 4,100 gallons Beginning Work-in-Process Inventory Costs added during May: Direct materials Direct labor Manufacturing overhead allocated 4,950 1,912 900 $ 7,762 Total costs added during May Direct Conversion Total COSTS Materials Costs Costs Costs to account for: Beginning work-in-process 7,762 Costs added during the period Total costs to account for Divided by: Total EUP Co 4,950 4,950 9,900 2,812 2,812 7,030 0.40 7,762 0.50 $ st per equivalent unit Costs accounted for 2,900 $ 2,050 4,950 $ 2,320 $ 492 Completed and transferred out 5,220 2,542 7,762 Ending work-in-process 2,812 $ Total costs accounted for 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 labor and the allocation of manufacturing overhead to the Blending Department. Debit Credit Date Accounts May 31 Next. nrenare the iournal entr to record the costs of the aallons comnleted and transferred out to the Packanina Denartment Next, prepare the journal entry to record the costs of the gallons completed and transferred out to the Packaging Department. Date Accounts Debit Credit May 31 Requirement 2. Post the journal entries to the Work-in-Process Inventory-Blending T-account. What is the ending balance? Post the entries using the appropriate descriptions as posting references. Denote the ending balance as "Bal." Work-in-Process Inventory-Blending Beg. Bal. 0