INSTRUCTIONS:

Using the Microsoft Excel, kindly prepare a cost production report for Department I and Department II using the Weighted Average Method.

Also, use the following format:

Font Name: Times New Roman

Font Size: 12

Paper Needs Inc, has the following production data for the month of June 20xx.

Department I Department II

Quantity Schedule Units Percentage of Completion Units Percentage of Completion

Work -in process, beginning 15,000 2/3 complete 9,000 1/3 complete

Transferred to next department 30,000

Work-in process,end 5,000 2/5 complete 8,000 7/8 complete

Cost Analysis Department I Department II

Work in process, beginning

Cost from preceding department

Cost from this department

Materials P16,920 P7,992

Labor 6,630 3,996

Overhead 2,100 2,664

Cost Added this Month

Materials P 21,720 P61,772

Labor 14,618 46,620

Overhead 5,068 31,080

In Department I, all materials are added at the start of the process, while labor and overhead are applied evenly throughout the process.

In Department II, 50% of materials are added at the start of the process and the balance is added when the process is completed. Conversion costs are applied uniformly to the process