I need this ASAP.

COST ACCOUNTING Computer Assignment PROCESS COSTING Sweetooth manufactures cakes in two departments, Mixing and Baking, using a process cost system. Data for each department for 20X3 are as follows: Mixing Baking Units: Work-in-process 1/1/X3 3,000 6,000 Started in process 49,000 ? Completed and transferred 45,000 40,000 Work-in-process 12/31/X3 5,000 10,000 Costs: Work-in-process 1/1/X3 Transferred-in Materials Conversion Added to department Transferred-in Materials Conversion Other: Materials added (% conversion) Conversion complete Beginning work-in-process Ending work-in-process Inspection (% conversion) Normal spoilage (% of units started) $ n/a 11,710 2,926 $ 9,195 -02,524 n/a 29,890 45,374 ? 70,000 75,190 0% 75% 2/3 50% 100% 3% 25% 60% 100% 2% The ingredients (flour, mild, eggs, etc.) are added at the beginning of the production process in the Mixing Department (i.e., 0% conversion). The cakes are baked in the Baking Department, after which the icing is applied (i.e., at 75% conversion). Requirements: Use Microsoft Excel to prepare a cost of production report template for each department to be used for any data for any accounting period: 1. 2. 3. 4. 5. 6. Enter the data above at the top of a spreadsheet exactly as it appears. Prepare a cost of production report for each department. a. Use the format presented in class. b. Use the weighted average method for the Mixing Department and the FIFO method for the Baking Department. The reports and journal entries should change automatically with changes in the data. a. Enter all data into the reports with cell references to the data above (i.e., do not type the information directly into the report cells). b. IF statements will be required (use the Excel Help feature for instructions). The spreadsheet should create journal entries to transfer costs from WIP-Mixing to WIP-Baking and from WIPBaking to finished goods (journal entries to record direct materials, direct labor and the overhead are not required). Be sure to include any entries to record abnormal spoilage costs. Display cost per equivalent unit amounts with five decimals. Display allocated costs and journal entry amounts with two decimals. DUE 11/10/2014: Submit your Excel solution file to kschristian@uh.edu with the message subject \"ACCT3337_Project\" no later than 11:55 p.m., November 10, 2014. COST ACCOUNTING Computer Assignment PROCESS COSTING Sweetooth manufactures cakes in two departments, Mixing and Baking, using a process cost system. Data for each department for 20X3 are as follows: Mixing Baking Units: Work-in-process 1/1/X3 3,000 6,000 Started in process 49,000 ? Completed and transferred 45,000 40,000 Work-in-process 12/31/X3 5,000 10,000 Costs: Other: Work-in-process 1/1/X3 Transferred-in Materials Conversion Added to department Transferred-in Materials Conversion Materials added (% conversion) Conversion complete Beginning work-in-process Ending work-in-process Inspection (% conversion) Normal spoilage (% of units started) $ n/a 11,710 2,926 $ 9,195 -02,524 n/a 29,890 45,374 ? 70,000 75,190 0% 75% 2/3 50% 100% 3% 25% 60% 100% 2% The ingredients (flour, mild, eggs, etc.) are added at the beginning of the production process in the Mixing Department (i.e., 0% conversion). The cakes are baked in the Baking Department, after which the icing is applied (i.e., at 75% conversion). Requirements: Use Microsoft Excel to prepare a cost of production report template for each department to be used for any data for any accounting period: 1. 2. 3. 4. 5. 6. Enter the data above at the top of a spreadsheet exactly as it appears. Prepare a cost of production report for each department. a. Use the format presented in class. b. Use the weighted average method for the Mixing Department and the FIFO method for the Baking Department. The reports and journal entries should change automatically with changes in the data. a. Enter all data into the reports with cell references to the data above (i.e., do not type the information directly into the report cells). b. IF statements will be required (use the Excel Help feature for instructions). The spreadsheet should create journal entries to transfer costs from WIP-Mixing to WIP-Baking and from WIPBaking to finished goods (journal entries to record direct materials, direct labor and the overhead are not required). Be sure to include any entries to record abnormal spoilage costs. Display cost per equivalent unit amounts with five decimals. Display allocated costs and journal entry amounts with two decimals. COST ACCOUNTING Computer Assignment UNITS Work-in-process 1/1/x5 Started in process Completed and transferred Work-in-process 12/31/x5 COSTS: Work-in-process 1/1/x5 Transferred-in Materials Conversion Added to department Transferred-in Materials Conversion OTHER: Materials added (%conversion) Conversion complete Beginning work-in-process Ending work-in-process Inspection (% of units started) Normal Spoilage (% of units started) Flow assumption (W-Wt.Avg. F-FIFO Allocation method (B-batch C-Continuous) PROCESS COSTING MIXING BAKING 3,000 49,000 45,000 5,000 6,000 45,000 40,000 10,000 11,710 2,926 91,995 0 2,524 n/a n/a ? 29,890 45,374 70,000 75,190 0% 75.00% 67% 50% 100% 3% W B 25.00% 60.00% 100.00% 2.00% F B Mixing Department MIXING DEPARTMENT Completed and transferred from Beginning work-in-process Starts Normal Spoilage Abnormal spoilage Ending work-in-process PU EUTI 3,000 42,000 1,470 530 5,000 5,200 Costs last period Costs this period EUM n/a n/a n/a n/a n/a n/a $ 3,000 42,000 1,470 530 5,000 52,000 Completed and transferred from Beginning work-in-process Starts Normal spoilage Abnormal spoilage Ending work-in process $ $ $ 5,327.27 74,581.82 2,610.36 941.15 6,439.39 89,900.0 n/a n/a n/a $ $ Cost per equivalent unit n/a Journal Entries WIP-PKGING LOSS WIP-MIXING EUC 3,000 4,200 1,470 530 5,000 49,500 $ $ 11,710.00 29,890.00 41,600.00 $ 2,926.00 45,374.00 48,300.00 $ 0.80000 $ 0.97576 82,519.45 941.15 83,460.60 Christian Kuiatesobngwi: Have a look at these formulas Baking Department BAKING DEPARMENT Completed and transferred from Beginning work-in-process Starts Normal Spoilage Abnormal spoilage Ending work-in-process PU 6,000 34,000 900 100 10,000 51,000 EUTI 34,000 900 100 10,000 45,000 EUM 6,000 34,000 900 100 41,000 EUC 4,500 34,000 900 100 6,000 44,600 Costs last period Costs this period Cost per equivalent unit Completed and transferred from Beginning work-in-process Starts Normal spoilage Abnormal spoilage Ending work-in process $ $ 29,399.28 176582.75 4674.25 519.36 28252.82 239,428.46 Journal entries FIN GOODS LOSS WIP-PKGING 210,656.28 519.36 211,175.64