I Y education.wiley.com C W Ch 11 Assignment W NWP Assessment Player UI Application Ch 11 Assignment Question 3 of 7 I Y education.wiley.com C W Ch 11 Assignment W NWP Assessment Player UI Application Ch 11 Assignment Question 3 of 7 > 0.25 /1 (a) V Your answer is correct. Complete Steps 1-5 of the template for the canning department of Novak Paints this year using the FIFO method of process costing, clearly labeling the following. (Round cost per equivalent unit answers to 2 decimal places, e.g. 15.25.) Equivalent units of production for all three cost categories: transferred-in, DM, and conversion costs. The cost per equivalent unit for all three cost categories: transferred-in, DM, and conversion costs. The total cost of units completed and the total cost of units in ending WIP Inventory. Transferred-in DM Conversion Cost Total equivalent units of 43500 work done 42300 43340 Cost per equivalent unit $ 8.70 $ 1.30 to 1.90 Total cost of units completed $ 521782 - . Cost of units in ending WIP Inventory to 111247 T El] 7 I] education.wiley.com C W Ch ll Assignment W NWP Assessment Player Ul Application 6 Ch 11 Assignment Question3of7 0.25/1 E E (b) Record the journal entry for each ofthe following transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) 1. Transfer of paint into the canning process in March. 2. Completion of canning of 44,000 gallons of paint in March. No. Account Titles and Explanation Debit Credit 1. 2. eTextbook and Media Assistance Used Assistance Used 6 List of Accounts I Y education.wiley.com C W Ch 11 Assignment W NWP Assessment Player UI Application Ch 11 Assignment Question 3 of 7 > 0.25/1 ... List of Accounts Assistance Used Cash DM Inventory FG Inventory MOH Control No Entry RM Inventory Salaries and Wages Payable WIP Inventory WIP Inventory - Assembly WIP Inventory - Bottling WIP Inventory - Canning WIP Inventory - Machining WIP Inventory - Manufacturing WIP Inventory - Melting WIP Inventory - Mixing