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Please answer in detail preferably using an excel spread sheet TASK 1 - Calculate the cost of production using Weighted Average process costing Zyon Industries

Please answer in detail preferably using an excel spread sheet

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TASK 1 - Calculate the cost of production using Weighted Average process costing Zyon Industries uses Weighted-Average process costing in accounting for its production activities. Materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. The production records for January indicate the following information: Quantities Beginning Inventory In units (70% Complete) 15,000 Units started during month 120,000 Transferred to finished goods 85,000 Ending inventory in units (50% Complete) 50,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $170,200 Direct labour cost $30,800 Factory overhead $58,300

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