Henkel Industries produces its product in two sequential departments: blending and Forming. The old controller, who has just retired, has been manually preparing the production cost reports each month. The new controller would like you, as an intern, to develop an Excel production cost report for the month of MAY that will automatically calculate the cost per equivalent unite, Etc., when the monthly information is dropped into Data area of the worksheet ( The data area shown as a blue box). The controller has provided you with a basic template, but needs you to finish the spreadsheet by adding formulas and cell references as needed. the only place she ever wants to type in numbers is in yellow cells within the purple Department Data table. although there are two departments, the controller want you to focus your attention on the blending department until she is sure that your spreadsheet will provide accurate information.
Before you begin to formulate the May spreadsheet, you will need to get production and cost dadt for the month of May. Some of the information can be found on last month's manually- prepared production cost report, while other pieces of inofrmation can be found in the MAy general journal. In addition the production supervisor has already reported that 220,000 units were started during May and that 30,000 units were 80% of the way completed at the end of the month. During your initial plant tour, you found out that all of the direct materials were added at the very beginning of the blending process.
I need help on the April Bending Dept Cost Report, May forming Dept Cost Report, the May General ledger, ans the Additional analysis
File Insert Data Review View Help Tell me what you want to do Open in Desktop App Home X Cut 6 Calibri 11 = = = 29 Wrap Text General Copy A A A Paste O Merge & Center - $ % 58 -8 Format Painter BIUR Clipboard Conditi Formatti Undo Alignment Number F30 J K L M N PROJECT OVERVIEW WN- First, save this file as Process Costing, namelD#_name ID# (fill in name and ID# for BOTH you and your partner using your LAST NAMES and CLASS ID NUMBERS. Example: "Process Costing_Braun15 and Tietz36". You will upload this file to Canvas when you are finished. 8 Henkel Industries produces its product in two sequential departments: Blending and Forming. The old controller, who has just retired, has been manually preparing the production cost reports each month. The new controller would like you, as an intern, to develop an Excel-based production cost report for the month of MAY that will automatically calculate the cost per equivalent unit, etc., when the monthly information is dropped into a Data area of the worksheet (the data area is shown as a blue box in the following worksheets). The controller has provided you with a basic template, but needs to you finish the spreadsheet by adding formulas and cell references as needed. The only place she ever wants to type in numbers is in the blue box. Although there are two departments, the controller wants you to focus your attention on the Blending department until she is sure that your spreadsheet will provide accurate information. As you begin to formulate the May spreadsheet, you'll need to get production and cost data for the month of May. Some of the information can be found on last month's manually prepared production cost report, while other pieces of information can be found in the May general ledger. In addition, the production supervisor has already reported that 220,000 units were started during May and that 30,000 units were 80% of the way completed at the end of the month. During your initial plant tour, you found out that all of the direct materials were added at the very beginning of the Blending process. Once you finish the spreadsheet, the controller has more questions and tasks for you (see the Additional Analysis worksheet after you have completed the May Production Cost Report). READ!!! 27 Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report C D E STEP-BY-STEP INSTRUCTIONS 35 1) Start with the May Blending Dept Cost Report. Fill in the information about units and percentages of completion in the May blue box. The blue box is the only place on the worksheet where you are allowed to type in numbers. FORMAT percentages as not decimals. Use the formatting icon on the Excel Ribbon (top bar of the screen) L M N o o EXCEL HINTS -An easy way to make a cell reference is to type an sign in the destination cell, and then use your cursor to select the cell you want rather than typing the cell reference and then pressenter. The same process works for referencing a cell that is in a different worksheet than the destination cell. To multiply, use Example: -8233 To divide, use/ Eample: = 620/A2 To add, use + Example: A3 A4 To subtract, use - Example: = 310 AB 36 2) Fill in the cost information in the May blue box. Hinton finding information Gather Information from April's cost report and from the General Ledger). Format in DOLLARS and CENTS using the formatting icon on the ribbon. If you get a RUN it simply means your column is not wide enough (if so, drag and drop the cell line so that the cell is Wider, or double click on the cell line next to the column letter to auto-size the column width.) Make use of the AutoSum button on the top ribbon) for adding cells together. 3) Use cell references and formulas to populate the production cost report. For example, in cell 4 you should type in the following reference: -33. In cell E6 you should type in the following formula: -4.ES. NOTE: DO NOT TYPE IN ANY NUMBERS. ALL CELLS SHOULD CONTAIN FORMULAS OR REFERENCES TO CELLS IN THE BLUBOX YOU SHOULD USE CELL REFERENCES, rather than typing in numbers, whenever possible. Points will be deducted if you type in numbers where cell references could have been used 4) Make sure all of the cost information is in dollars and cents (use th Shane, Hodtange 5) Clean up the spreadsheet formatting as necessary for example, if anything is bold, change it back to regular font: get rid of unnecessary decimal places, align numbers properly, etc.) 6) Once you finish the production cost report, go to the "Additional Analysis worksheet for additional requirements and directions. (Note: You may want to have your figures checked by myself or the TA before you move on to the additional analysis. Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report ... Conversion EU Department Data Information about units: Units in Beginning WIP Started during month Units in Ending WIP 25,000 220,000 30,000 D Production Cost Report: Blending Department - MAY FLOW OF UNITS Physical Units DMEU Units to account for: Beginning work in process 25,000 Started in production 220.000 Total units to account for Percentage of completion: Direct materials Conversion 100% 80% 215,000 Units accounted for: Completed and transferred out Ending WIP Total units accounted for 215,000 30,000 245,000 215,000 24,000 239,000 245,000 Costs in Beginning WIP DM in beginning WIP Conversion costs in beginning WIP $ 132,500.00 $ 78,300.00 Total DM Conversion Cost information for the current mont DM traced to Dept during the month $1,153,750.00 DL traced to Dept during the month $ 45,000.00 MOH allocated to dept during the month S 617,600.00 FLOW OF COSTS Costs to account for: Beginning work in process Costs added during month Total costs to account for $ S $ 210,800.00 $ 1,816,350.00 $ 2,027,150.00 $ 132,500.00 $ 1,153,750.00 $ 1,286,250.00 $ 78,300.00 662,600.00 740,900.00 Cost per equivalent unit $ 8.35 $ 5.25 $ 3.10 NOTE: The blue box contains the data you'll need for completing the Production Cost Report (tan box). Certain figures in the blue box must be typed in. Other figures in the blue box can be cell referenced from another worksheet (cell address). Costs accounted for: Completed and transferred out Ending WIP Total costs accounted for $ $ $ 1,795,250.00 $ 231,900.00 $ 2,027,150.00 $ 1,128,750.00 $ 157,500.00 $ 1,286,250.00 $ 666,500.00 74,400.00 740,900.00 ALL cells in the Production Cost Report (tan box) should be formulas or cell-referenced to figures in the blue box. DO NOT TYPE ANY FIGURES on the Production Cost Report or you will lose points on Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report ... Conversion EU 2 3 4 5 6 Production Cost Report: Blending Dept.- APRIL FLOW OF UNITS Physical Units DM EU Units to account for: Beginning work in process Started in production Total units to account for NOTE: Do NOT complete this production cost report Select information is provided for use elsewhere in the project. 8 9 10 11 Units accounted for: Completed and transferred out Ending WIP Total units accounted for 25,000 12 Total Conversion 13 F LOW OF COSTS 14 Costs to account for: 15 Beginning work in process 16 Costs added during month 17 Total costs to account for 18 19 Cost per equivalent unit 20 21 Costs accounted for: 22 Completed and transferred out 23 Ending WIP 24 Total costs accounted for 25 $ 210,800 $ 132,500 $ 78,300 Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report ... C onversion EV 3 4 5 6 Production Cost Report: Forming Dept.- MAY FLOW OF UNITS Physical Units DM EU Units to account for: Beginning work in process Started in production Total units to account for 8 9 10 11 Units accounted for: Completed and transferred out Ending WIP Total units accounted for NOTE: Do NOT complete this production cost repor Select information is provided for use elsewhere in the project. Total 9 FLOW OF COSTS 14 Costs to account for: 15 Beginning work in process 16 Costs added during month 17 Total costs to account for 9 Cost per equivalent unit 1 2 3 4 Costs accounted for: Completed and transferred out Ending WIP Total costs accounted for May Forming Dept Cost Report ... Directions May Blending Dept Cost Report April Blending Dept Cost Report Use a formula to find the total expenses for the month. $ 45,000 $ 45,000 For Income Statement: Total Operating Expenses 1 May General Journal Entries. Partial list 2 3 WIP-Blending 4 Wages Payable 5 (to record DL traced to the Blending Dept) 6 7 NIP-Blending 8 Raw materials inventory 9 to record DM traced to the Blending Dept) 10 11 NIP- Blending 12 MOH 13 to record MOH allocated to the Blending Dept) $ 1,153,750 $ 1,153,750 REMEMBER: R ES 617,600 $ 617,600 Asset and Expense accounts are increased through debits (first Liabilities and Revenue accounts are increased through credits S 750,000 REFEREEEEES (Parenthetical explanation of transaction is listed below each jou 750,000 ALISERIES 45,000 $ 45,000 RESTED 15 NIP- Forming 16 Wages Payable 17 (to record DL traced to the Forming Dept) 18 19 NIP-Forming B 20 Raw materials inventory 21 to record DM traced to the Forming Dept) 22 23 NIP-Forming 24 MOH-Forming 25 to record MOH allocated to the Forming Dept) 26 27 Salary Expense 28 Wages Payable 4 ) May Blending Dept Cost Report LILIS 617,600 S 617.600 $ 275,000 $ April Blending Dept Cost Report 275,000 May Forming Dept Cost Report May General Ledger ... TA A $ 617,600 23 WIP-Forming MOH-Forming 25 (to record MOH allocated to the Forming Dept) $ 617,600 $ 275,000 27 Salary Expense 28 Wages Payable 29 (to record salaries and wages of selling, general and admin.staff) $ 275,000 $ 25,000 31 Rent Expense Rent Payable 33 (to record monthly rent) $ 25,000 35 30,000 Insurance Expense Prepaid Insurance (to record Insurance on selling, general, and admin. Building) $ 30,000 37 $ 3,600,000 39 40 41 Accounts Receivable Sales Revenue (to record the sale of 180,000 units at a price of $20 per unit) $ 3,600,000 10,000 $ 10,000 43 44 45 Utilities Expense Utilities Payable (to record Insurance on selling, general, and admin. Building) 120,000 $ 120,000 47 48 49 Advertising expense Accounts Payable (to record advertising expenses) April Blending Dept Cost Report May Blending Dept Cost Report May Forming Additional analysis K L M N O P 0 DIRECTIONS Now that you have completed the production cost report, the controller would like you to do a few me the space at the left to document your responses 1) Journal entry needed VIP Forming WIP. Blending IMPORTANT NOTE: Every figure on this spreadsheetdollar amounts and units) should be cell referens elsewhere not typed in EXCEPT for the blue boxes (number of units sold, Sales price per unit, and W units and cost). Une labels and account names will need to be typed in. To reference a cell in anothe select the cell where you want the answer and types. Then, select the cell you want to get from ad hit the Enter button Total cost per unit 1) How much cost, in total, needs to get transferred to the forming Department Complete the journ appropriate amount 2) The controller wants to know the cost of making one unit of product in May, from START TO FINISH the Blending and forming Departments). Show your calculations by listing ach of the costs per departments that make up the total cole lening OM, Blending C, etc.). FORMAT the cost and cents and HIGHLIGHT the total cost per unit use the spilling paint bucket icon to in the cell w color) Herkel Industries Income Statement For the Month Ending May 31 Units Sold Sales price/unit 3) The controller would like you to prepare a draft of the company's income statement. In addition, see the sales price per unit, cost per unit, and gross profit per unit Hint See general ledger for the transactions that occurred during the month. Make sure you format everything in dollars and cents. 4) At the beginning of May, the company had no Finished Goods inventory and no WIP in the Form All units transferred out of the Blending Dept. In Mary he made it completely through the Forming The controller would like you to prepare an analysis of the company's ending WIP and FG inventory a The controller wants to know the following: a) How many units are in each Department's ending WIP Inventory? b) What is the cost balance for each Department's ending WIP Inventory? Reconciling UNITS in End FG In c) How many units are in ending Finished Goods inventory? (se side purple box to figure it out.) Beg FG dj What is the total cost balance in ending Finished Goods Inventory? May General Ledger Additional Analysis Total Cost wentory Analysis Ending Units JP Inventory.Blending April Blending Dept Cost Report May Forming Dept Cost Report Ending Units Total Cost Reconciling UNITS in End FG Beg TG by What is the cost balance for each Department's ending woventory! How many wending ho w What is the total cost balance is ending Fished Goods inventory? to get out) Inventory Analysis WIP Inventory.Blending WIP inventory Forming Finished Goods Inventory of the though the production manager and that the unit the end of May were process, the controller knows that are is somewhat she has the who b e the only outcome we want you to run your pred percent of completion to see what impact the estimate Altstal cost pertand the com SA) Total cost per unit IMPORTANT: BERORE rename "What then check the bom these steps. May produc t To do this on the May tab the mother w ho o Then on the re prehendchool completo SA Calculate the total cost per uniting as the percentage of combo SjCaleate the difference in operating income between the two posible per Sylwether S in general managers want to sa parte pred what Henkel industries Income Statement for the Month Ending May 31 Per unit they and upload to Lower or higher when GoNis used? ring Dept Cost Report Al Al May General Ledger Herence in operating income 8 5C) Lower or higher when 60% is used? 19 Difference in operating income: 5D) Briefly explain the reason for the difference. 5E) If managers want to inflate earnings in a particular period, what can they do? File Insert Data Review View Help Tell me what you want to do Open in Desktop App Home X Cut 6 Calibri 11 = = = 29 Wrap Text General Copy A A A Paste O Merge & Center - $ % 58 -8 Format Painter BIUR Clipboard Conditi Formatti Undo Alignment Number F30 J K L M N PROJECT OVERVIEW WN- First, save this file as Process Costing, namelD#_name ID# (fill in name and ID# for BOTH you and your partner using your LAST NAMES and CLASS ID NUMBERS. Example: "Process Costing_Braun15 and Tietz36". You will upload this file to Canvas when you are finished. 8 Henkel Industries produces its product in two sequential departments: Blending and Forming. The old controller, who has just retired, has been manually preparing the production cost reports each month. The new controller would like you, as an intern, to develop an Excel-based production cost report for the month of MAY that will automatically calculate the cost per equivalent unit, etc., when the monthly information is dropped into a Data area of the worksheet (the data area is shown as a blue box in the following worksheets). The controller has provided you with a basic template, but needs to you finish the spreadsheet by adding formulas and cell references as needed. The only place she ever wants to type in numbers is in the blue box. Although there are two departments, the controller wants you to focus your attention on the Blending department until she is sure that your spreadsheet will provide accurate information. As you begin to formulate the May spreadsheet, you'll need to get production and cost data for the month of May. Some of the information can be found on last month's manually prepared production cost report, while other pieces of information can be found in the May general ledger. In addition, the production supervisor has already reported that 220,000 units were started during May and that 30,000 units were 80% of the way completed at the end of the month. During your initial plant tour, you found out that all of the direct materials were added at the very beginning of the Blending process. Once you finish the spreadsheet, the controller has more questions and tasks for you (see the Additional Analysis worksheet after you have completed the May Production Cost Report). READ!!! 27 Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report C D E STEP-BY-STEP INSTRUCTIONS 35 1) Start with the May Blending Dept Cost Report. Fill in the information about units and percentages of completion in the May blue box. The blue box is the only place on the worksheet where you are allowed to type in numbers. FORMAT percentages as not decimals. Use the formatting icon on the Excel Ribbon (top bar of the screen) L M N o o EXCEL HINTS -An easy way to make a cell reference is to type an sign in the destination cell, and then use your cursor to select the cell you want rather than typing the cell reference and then pressenter. The same process works for referencing a cell that is in a different worksheet than the destination cell. To multiply, use Example: -8233 To divide, use/ Eample: = 620/A2 To add, use + Example: A3 A4 To subtract, use - Example: = 310 AB 36 2) Fill in the cost information in the May blue box. Hinton finding information Gather Information from April's cost report and from the General Ledger). Format in DOLLARS and CENTS using the formatting icon on the ribbon. If you get a RUN it simply means your column is not wide enough (if so, drag and drop the cell line so that the cell is Wider, or double click on the cell line next to the column letter to auto-size the column width.) Make use of the AutoSum button on the top ribbon) for adding cells together. 3) Use cell references and formulas to populate the production cost report. For example, in cell 4 you should type in the following reference: -33. In cell E6 you should type in the following formula: -4.ES. NOTE: DO NOT TYPE IN ANY NUMBERS. ALL CELLS SHOULD CONTAIN FORMULAS OR REFERENCES TO CELLS IN THE BLUBOX YOU SHOULD USE CELL REFERENCES, rather than typing in numbers, whenever possible. Points will be deducted if you type in numbers where cell references could have been used 4) Make sure all of the cost information is in dollars and cents (use th Shane, Hodtange 5) Clean up the spreadsheet formatting as necessary for example, if anything is bold, change it back to regular font: get rid of unnecessary decimal places, align numbers properly, etc.) 6) Once you finish the production cost report, go to the "Additional Analysis worksheet for additional requirements and directions. (Note: You may want to have your figures checked by myself or the TA before you move on to the additional analysis. Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report ... Conversion EU Department Data Information about units: Units in Beginning WIP Started during month Units in Ending WIP 25,000 220,000 30,000 D Production Cost Report: Blending Department - MAY FLOW OF UNITS Physical Units DMEU Units to account for: Beginning work in process 25,000 Started in production 220.000 Total units to account for Percentage of completion: Direct materials Conversion 100% 80% 215,000 Units accounted for: Completed and transferred out Ending WIP Total units accounted for 215,000 30,000 245,000 215,000 24,000 239,000 245,000 Costs in Beginning WIP DM in beginning WIP Conversion costs in beginning WIP $ 132,500.00 $ 78,300.00 Total DM Conversion Cost information for the current mont DM traced to Dept during the month $1,153,750.00 DL traced to Dept during the month $ 45,000.00 MOH allocated to dept during the month S 617,600.00 FLOW OF COSTS Costs to account for: Beginning work in process Costs added during month Total costs to account for $ S $ 210,800.00 $ 1,816,350.00 $ 2,027,150.00 $ 132,500.00 $ 1,153,750.00 $ 1,286,250.00 $ 78,300.00 662,600.00 740,900.00 Cost per equivalent unit $ 8.35 $ 5.25 $ 3.10 NOTE: The blue box contains the data you'll need for completing the Production Cost Report (tan box). Certain figures in the blue box must be typed in. Other figures in the blue box can be cell referenced from another worksheet (cell address). Costs accounted for: Completed and transferred out Ending WIP Total costs accounted for $ $ $ 1,795,250.00 $ 231,900.00 $ 2,027,150.00 $ 1,128,750.00 $ 157,500.00 $ 1,286,250.00 $ 666,500.00 74,400.00 740,900.00 ALL cells in the Production Cost Report (tan box) should be formulas or cell-referenced to figures in the blue box. DO NOT TYPE ANY FIGURES on the Production Cost Report or you will lose points on Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report ... Conversion EU 2 3 4 5 6 Production Cost Report: Blending Dept.- APRIL FLOW OF UNITS Physical Units DM EU Units to account for: Beginning work in process Started in production Total units to account for NOTE: Do NOT complete this production cost report Select information is provided for use elsewhere in the project. 8 9 10 11 Units accounted for: Completed and transferred out Ending WIP Total units accounted for 25,000 12 Total Conversion 13 F LOW OF COSTS 14 Costs to account for: 15 Beginning work in process 16 Costs added during month 17 Total costs to account for 18 19 Cost per equivalent unit 20 21 Costs accounted for: 22 Completed and transferred out 23 Ending WIP 24 Total costs accounted for 25 $ 210,800 $ 132,500 $ 78,300 Directions May Blending Dept Cost Report April Blending Dept Cost Report May Forming Dept Cost Report ... C onversion EV 3 4 5 6 Production Cost Report: Forming Dept.- MAY FLOW OF UNITS Physical Units DM EU Units to account for: Beginning work in process Started in production Total units to account for 8 9 10 11 Units accounted for: Completed and transferred out Ending WIP Total units accounted for NOTE: Do NOT complete this production cost repor Select information is provided for use elsewhere in the project. Total 9 FLOW OF COSTS 14 Costs to account for: 15 Beginning work in process 16 Costs added during month 17 Total costs to account for 9 Cost per equivalent unit 1 2 3 4 Costs accounted for: Completed and transferred out Ending WIP Total costs accounted for May Forming Dept Cost Report ... Directions May Blending Dept Cost Report April Blending Dept Cost Report Use a formula to find the total expenses for the month. $ 45,000 $ 45,000 For Income Statement: Total Operating Expenses 1 May General Journal Entries. Partial list 2 3 WIP-Blending 4 Wages Payable 5 (to record DL traced to the Blending Dept) 6 7 NIP-Blending 8 Raw materials inventory 9 to record DM traced to the Blending Dept) 10 11 NIP- Blending 12 MOH 13 to record MOH allocated to the Blending Dept) $ 1,153,750 $ 1,153,750 REMEMBER: R ES 617,600 $ 617,600 Asset and Expense accounts are increased through debits (first Liabilities and Revenue accounts are increased through credits S 750,000 REFEREEEEES (Parenthetical explanation of transaction is listed below each jou 750,000 ALISERIES 45,000 $ 45,000 RESTED 15 NIP- Forming 16 Wages Payable 17 (to record DL traced to the Forming Dept) 18 19 NIP-Forming B 20 Raw materials inventory 21 to record DM traced to the Forming Dept) 22 23 NIP-Forming 24 MOH-Forming 25 to record MOH allocated to the Forming Dept) 26 27 Salary Expense 28 Wages Payable 4 ) May Blending Dept Cost Report LILIS 617,600 S 617.600 $ 275,000 $ April Blending Dept Cost Report 275,000 May Forming Dept Cost Report May General Ledger ... TA A $ 617,600 23 WIP-Forming MOH-Forming 25 (to record MOH allocated to the Forming Dept) $ 617,600 $ 275,000 27 Salary Expense 28 Wages Payable 29 (to record salaries and wages of selling, general and admin.staff) $ 275,000 $ 25,000 31 Rent Expense Rent Payable 33 (to record monthly rent) $ 25,000 35 30,000 Insurance Expense Prepaid Insurance (to record Insurance on selling, general, and admin. Building) $ 30,000 37 $ 3,600,000 39 40 41 Accounts Receivable Sales Revenue (to record the sale of 180,000 units at a price of $20 per unit) $ 3,600,000 10,000 $ 10,000 43 44 45 Utilities Expense Utilities Payable (to record Insurance on selling, general, and admin. Building) 120,000 $ 120,000 47 48 49 Advertising expense Accounts Payable (to record advertising expenses) April Blending Dept Cost Report May Blending Dept Cost Report May Forming Additional analysis K L M N O P 0 DIRECTIONS Now that you have completed the production cost report, the controller would like you to do a few me the space at the left to document your responses 1) Journal entry needed VIP Forming WIP. Blending IMPORTANT NOTE: Every figure on this spreadsheetdollar amounts and units) should be cell referens elsewhere not typed in EXCEPT for the blue boxes (number of units sold, Sales price per unit, and W units and cost). Une labels and account names will need to be typed in. To reference a cell in anothe select the cell where you want the answer and types. Then, select the cell you want to get from ad hit the Enter button Total cost per unit 1) How much cost, in total, needs to get transferred to the forming Department Complete the journ appropriate amount 2) The controller wants to know the cost of making one unit of product in May, from START TO FINISH the Blending and forming Departments). Show your calculations by listing ach of the costs per departments that make up the total cole lening OM, Blending C, etc.). FORMAT the cost and cents and HIGHLIGHT the total cost per unit use the spilling paint bucket icon to in the cell w color) Herkel Industries Income Statement For the Month Ending May 31 Units Sold Sales price/unit 3) The controller would like you to prepare a draft of the company's income statement. In addition, see the sales price per unit, cost per unit, and gross profit per unit Hint See general ledger for the transactions that occurred during the month. Make sure you format everything in dollars and cents. 4) At the beginning of May, the company had no Finished Goods inventory and no WIP in the Form All units transferred out of the Blending Dept. In Mary he made it completely through the Forming The controller would like you to prepare an analysis of the company's ending WIP and FG inventory a The controller wants to know the following: a) How many units are in each Department's ending WIP Inventory? b) What is the cost balance for each Department's ending WIP Inventory? Reconciling UNITS in End FG In c) How many units are in ending Finished Goods inventory? (se side purple box to figure it out.) Beg FG dj What is the total cost balance in ending Finished Goods Inventory? May General Ledger Additional Analysis Total Cost wentory Analysis Ending Units JP Inventory.Blending April Blending Dept Cost Report May Forming Dept Cost Report Ending Units Total Cost Reconciling UNITS in End FG Beg TG by What is the cost balance for each Department's ending woventory! How many wending ho w What is the total cost balance is ending Fished Goods inventory? to get out) Inventory Analysis WIP Inventory.Blending WIP inventory Forming Finished Goods Inventory of the though the production manager and that the unit the end of May were process, the controller knows that are is somewhat she has the who b e the only outcome we want you to run your pred percent of completion to see what impact the estimate Altstal cost pertand the com SA) Total cost per unit IMPORTANT: BERORE rename "What then check the bom these steps. May produc t To do this on the May tab the mother w ho o Then on the re prehendchool completo SA Calculate the total cost per uniting as the percentage of combo SjCaleate the difference in operating income between the two posible per Sylwether S in general managers want to sa parte pred what Henkel industries Income Statement for the Month Ending May 31 Per unit they and upload to Lower or higher when GoNis used? ring Dept Cost Report Al Al May General Ledger Herence in operating income 8 5C) Lower or higher when 60% is used? 19 Difference in operating income: 5D) Briefly explain the reason for the difference. 5E) If managers want to inflate earnings in a particular period, what can they do
