Fill out the excel sheet. Please also include formulas in the answer.

Question 1: Greenland Paint Company (GPC), which manufactures quality paint to sell to commercial building contractors, uses a single production department. Production begins by blending the various chemicals that are added at the beginning of the process and ends by filling the paint buckets. The buckets are then transferred to the shipping department for crating and shipment. Direct labour and manufacturing overhead are added continuously throughout the process. Prior to May, when a change in the manufacturing process was implemented, production increased significantly. As a result of a lack of training on the process, 1000 units of paint were spoiled in May - one-half of which was considered normal spoilage. The product is inspected at the end of the production process. The data related to the actual production for the month of May is: Costs $ 58,750 42,000 Work-in-process inventory, May 1 Direct materials Conversion costs Costs added in month of May Direct materials Direct labour Manufacturing overhead 346,050 46,295 138,885 Work-in-process inventory, May 1 (30% completed) Units started in May Units completed and transferred to shipping Work-in-process inventory, May 31 (80% completed) Units 2,000 30,000 24,500 6,500 Required: Prepare a production cost report for May using the weighted average method. Units WIP, Beginning Units started in month Units to account for Units completed Normal Spoilage Ending WIP units Direct Materials Conversion Cost Units Completed Ending WIP Direct Materials (100% Completed) Conversion (80% Completed) Equivalent Units Direct Materials Conversion Costs Beginning WIP Costs Costs added during period Total costs for period Divide by the total EU per cost pool Cost per EU $ Completed units Ending WIP Direct Materials $ $ Conversion Costs Total Costs $ $ $ $ $