STEP-BY-STEP INSTRUCTIONS 1) Fill in the information about units and percentages of completion in the May blue box. FORMAT percentages as percentages (not decimals). 2) Fill in the cost information in the May blue box. (Hint: Gather from April's cost report and from the General Ledger). FORMAT in DOLLARS (no cents). If you get a ######### it simply means your column is not wide enough (if so, drag and drop the cell line so that the cell is wider) 3) Use cell references and formulas to populate the production cost report. For example, in cell E4 you should type in the following reference: = B3. In cell E6 you should type in the following formula: = E4+E5. NOTE: DO NOT TYPE IN ANY NUMBERS. ALL CELLS SHOULD CONTAIN FORMULAS OR REFERENCES TO CELLS IN THE BLUE BOX. 4) Make sure all of the cost information is in dollars (use the dollar format button). 5) Clean up the spreadsheet formatting as necessary (for example, if anything is bold, change it back to regular font; get rid of unnecessary decimal places; align numbers properly, etc.) 6) Once you finish the production cost report, go to the "Additional Analysis" worksheet for additional requirements and directions. A B D E F G H Conversion EU Department Data Information about units: Units in Beginning WIP Started during month Units in Ending WIP Production Cost Report: Blending Department FLOW OF UNITS Physical Units DM EU Units to account for: Beginning work in process 25,000 Started in production 220,000 Total units to account for 245,000 25,000 220,000 30,000 - . . - Percentage of completion: Direct materials Conversion 100% 80% . Units accounted for: Completed and transferred out Ending WIP Total units accounted for 24000 30,000 30,000 30000 30000 1 24000 2 Costs in Beginning WIP DM in beginning WIP Conversion costs in beginning WIP $132,500 $78,300 Total DM Conversion 3 4 4 5 FLOW OF COSTS Costs to account for: Beginning work in process Costs added during month Total costs to account for $210,800 $78,300 Cost information for the current month: DM traced to Dept during the month $1,153,750 DL traced to Dept during the month $45,000 MOH allocated to dept during the month $617,600 5 $132,500 $1,153,750 $1,286,250 7 3 3 Cost per equivalent unit 1 2 Costs accounted for: Completed and transferred out Ending WIP Total costs accounted for 3 4 5 5 Dept. DM EU Conversion EU Production Cost Report: FLOW OF UNITS Physical Units Units to account for: Beginning work in process Started in production Total units to account for Units accounted for: Completed and transferred out Ending WIP Total units accounted for 25,000 Total DM Conversion FLOW OF COSTS Costs to account for: Beginning work in process Costs added during month Total costs to account for Cost per equivalent unit Costs accounted for: Completed and transferred out Ending WIP Total costs accounted for $ 210,800 $ 132,500 $ 78,300
