Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

I have done the working out, but i want to know: How do you enter the answers in the shaded red using cell references? Please

I have done the working out, but i want to know:

  • How do you enter the answers in the shaded red using cell references?
  • Please answer exactly what i need to write in the cells for each shaded red section. thanks

image text in transcribed
A B D E F G M 0 P Q 3 Using Excel To Prepare a Production Report Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical 5 The Sanding Department of Quik Furniture Company has the formulas with cell references to the Problem or the work area as indicated. Use the SUM 6 following production and manufacturing cost data for March function for totals as indicated 2022, the first month of operation. Prepare a production cost report. Production 10 Units in process, March 1 11 Units in process, March 31 3,000 Quik Furniture Company 12 Units finished and transferred out 7,000 Sanding Department 13 Units transferred out, percentage complete 100% Production Cost Report 14 Units in process, March 31 For the Month Ended March 31, 2022 15 Direct materials - percentage complete 100% 16 Conversion costs - percentage complete 20% Physical Conversion Quantities Units Materials Costs Manufacturing costs Units to be accounted for Costs of units in process, March 1 $ Work in process March 1 20 Costs added during April Started into production 10,000 Materials 33,000 Total units 10,000 22 Labor 21,000 23 Overhead 36,000 Units to be accounted for 24 Transferred out 7,000 7,000 7,000 25 Work in process March 31 3,000 3,000 600 26 Total units 10,000 10,000 7,600 27 28 Conversion 29 Costs Materials Costs Total 30 Unit costs Total cost $ 33,000 $ 57,000 $ 90,000 Equivalent units 10,000 7,600 Unit costs 3.30 7.50 10.80 Cost Reconciliation Schedule Costs accounted for Transferred out S Work in process March 31 90,000 Total costs S 90,000 Costs accounted for Transferred out $ 75,600 Work in process March 31 Materials S 9,900 Conversion costs 4,500 14,400 Total costs S 90,000 47 Summary Enter Answer +

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

4th Canadian edition

978-1118856994

Students also viewed these Accounting questions