Question

View O Help Search Table Design Layout E 21 AaBbcDa AaBbceDi AaBbCcDd AaBbCD AaBbco Emphasis 1 Heading 1 1 Normal Strong Subtitle Paragraph Styles Part 1-45 Marks Como Corporation manufactures car seats in its Sarnia plant. Each car seat passes through the Assembly Dept. and then the Testing Dept. Direct materials are added at the beginning of the process whereas conversion costs are incurred uniformly during the process. All units are transferred to the Testing Dept. upon completion. $402,750 + Data for the month ended, December 2019 is given below: Physical units DM WIP, beginning 5,000 $1,250,000 Started in month 20,000 Completed in month ? WIP, ending 2,500 Costs added in $4,500,000 month $2,337,500 WIP, beginning WIP, ending % complete El 100% 100% % complete S6096 70% Required: Assignment must be submitted in Excel Prepare an Input Section based on the information given above relating to the Assembly Dept. On a separate sheet, prepare a Production Report for the Assembly Department (Weighted Average Method) for the month of December 2019. On a separate sheet, prepare journal entries in General Journal format that references from the Production Report or Input Section for December for the Assembly Department On the same sheet as part 3, Prepare a T-account for Work in Process for the Assembly Department that references amounts from items 1-3 and calculates the ending balance at December 5. Repeat Items 2.3, and 4 except using the FIFO method.

Answer 1

Book1 - Microsoft Excel - 9 X Insert Page Layout Formulas Data Review View Developer Home * Cut La Copy Pastel s Clipboard A9 Calibri BI = = = ET E Wrap Text E Merge & Center General 99 % *- } Insert Delete Format AutoSum in - 11 - AA U - -> A Font fic Note 1 , Conditional Format Formatting as Table Styles Cell Styles 2 Clear Sort & Filter Editing Find & Select Alignment Number Cells G H J K L M N O Units 60% 2 3 WIP in Beginning 4 Started in Month 5 Completed During Month 6 WIP at End of Month 5,000.00 20,000.00 22,500.00 2,500.00 DM 100% 12,50,000.00 45,00,000.00 100% 56,25,000.00 100% 6,25,000.00 CC Total 4,02,750.00 16,52,750.00 23,37,500.00 68,37,500.00 30,20,625.00 86,45,625.00 Refer Note 2 2,34,937.50 8,59,937.50 Refer Note 1 100% 70% 7 12,50,000.00 +1250000/5000*2500 625000 9 Note 1 10 DM cost of WIP at end of Month would be: 11 Cost of DM Wip Beg. @ 100% level would be equal to 12 Hence, COST of DM Wip End @ 100% level would be equal to 13 14 CC of Wip Beg would be for 5000 units @ 60% 15 then for 5000 units @ 100% would be 16 i.e. P.U.CC @ 100% is 17 Hence, for CC for 2500 units @ 70% would be 671250 4,02,750.00 +402750/60*100 134.25 2,34,937.50 18 19 20 21 Note 2 22 For Completed Units of 22500 cost are as follows: 23 DM for 22500 @ 100%-p.u. Cost is $250 24 25 CC for completed units of 22500 26 p.u. Cost is $ 134.25 27 56,25,000.00 30,20,625.00 28 Input Section Production Report Journal Entry_ WIP T Account K Ready O 3 Ask me anything O e 90% Ul 19:31 a 1) 03-02-2020 @ 9 ^

Book1 - Microsoft Excel - 9 X Autosum - 4 Eg Copy General - % - } Insert Delete Format , $8.99 Home Insert Page Layout Formulas Data Review View Developer Cut Calibri - 11 - A A = = = Wrap Text Paste Painter B Format Painter IU - -A F Merge & Center - Clipboard Font Alignment B7 fr (Being converted variable cost into FG & WIP) А C D E G Conditional Format Formatting as Table Styles Cell Styles 2 Clear Sort & Filter Editing Find & Select Number Cells H I J K L M N O P Q R 1 2 Sr. No. Particulars 3 1 FG - Production Completed A/C WIP End of Month A/C TO WIP Beginning A/c To Material Consumed A/C (Being converted variable cost into FG & WIP) Dr. Amt in $ Cr. Amt in $ 86,45,625.00 8,59,937.50 16,52,750.00 78,52,812.50 Input Section Production Report Journal Entry WIP T Account Ready OU 100% 19:31 A 1 O Ask me anything O e D @ 9 A ^ a 1) 03-02-2020

Book1 - Microsoft Excel - 9 X View Developer Accounting AutoSum" AT A Wrap Text Merge & Center - . 3 Insert Delete Format Home Insert Page Layout Formulas Data Review * Cut Calibri - 11 - A A = = = La Copy aste Format Painter BI U A E Clipboard Font 04 - for 1652750 А в D Cell Styles E - % 1 Conditional Format Formatting as Table Styles , 18:09 2 Clear Sort & Filter Editing Find & Select Alignment Number Cells E F G H I J K L M N O P Q WIP A/C Date Particulars Amt $ 3 Date Particulars 4 Beg Dec To Opening Balance B/d Amt $ 16,52,750.00 6 During De To Material Introduced & Consumed 78,52,812.50 During De By FG Completed 86,45,625.00 End Dec By Bal C/d 8,59,937.50 95,05,562.50 95,05,562.50 20 ► Ready Input Section Production Report Journal Entry WIP T Account 2 O 100% U 19:32 a Ask me anything O e - @ 9 ^ a 1) 03-02-2020