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Solve in Excel please. Thank you! Zoo Company manufactures a product that passes through two departments, Assembly and Finishing. In the Finishing Department, materials are
Solve in Excel please. Thank you!
Zoo Company manufactures a product that passes through two departments, Assembly and Finishing. In the Finishing Department, materials are added at the end of the process. Conversion costs are incurred uniformly throughout the process. During the month of December, the Finishing Department received 60,000 units from the Assembly Department. The transferred-in cost of the 60,000 units was $69,900. Costs added by Finishing during December included the following: On December 1, the Finishing Department had 10,000 units in inventory that were 30% complete with respect to conversion costs. On December 31, 12,000 units were in inventory, 33% complete with respect to conversion costs. The costs associated with the 10,000 units in beginning inventory were as follows: Required: Determine cost of goods manufactured and ending work in process in the Finishing Department using the following: 1. Weighted average process costing 2. FIFO process costingStep by Step Solution
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