They need a better and faster way to communicate this important information.

Your goal is to create a spreadsheet that can be used by Weather Instruments to determine cost information required from their process costing system in a timelier manner. The spreadsheet will be used every month to determine critical information for the financial statements. Your spreadsheet needs to be designed to accept different input values each month.

The company has two sequential processing departments, Assembly and Finishing.

Detailed information related to each department is attached.

Your spreadsheet should include two tabs$,$ one for each department. Each tab should

include the following calculations $($clearly labeled$)$:

$$ Physical flow

$$ Equivalent units

$$ Cost per equivalent unit

$$ Cost assigned to units transferred out

$$ Cost of abnormal spoilage $($if applicable$)$

$$ Cost assigned to units in ending work in process

Weather Instruments: Production information

Assembly: The company uses the weighted average method of process costing for this department.

$$ Materials are added at the beginning of the process.

$$ There is no spoilage in the assembly department.

Production information related to January:

$$ Beginning work in process on January $1$ was $70\%$ complete as to conversion.

$$ Ending work$-$in$-$process on January $31$ was $40\%$ complete as to conversion.

$$ The beginning inventory on January $1$ included $$15,000$ for materials and $$6,000$ for

conversion costs.

Other information related to production in January for the Assembly Department:

Beginning work$-$in$-$process units $20,000$

Units started this period $40,000$

Units completed this period $52,000$

Ending work$-$in$-$process units $8,000$

Material costs added $$44,000$

Direct manufacturing labor added $$16,000$

Factory overhead applied $$8,000$

Finishing: The company uses the FIFO method of process costing for this department.

$$ Materials are added at the end of the process.

$$ Spoilage is detected at the end of the finishing process. Normal spoilage is $2\%$ of the

good units transferred out of the finishing process into finished goods.

Production information related to January:

$$ Beginning work in process on January $1$ was $65\%$ complete as to conversion.

$$ Ending work in process on January $31$ was $25\%$ complete as to conversion.

$$ The beginning inventory on January $1$ included $$16,000$ for transferred$-$in costs and

$$20,000$ for conversion costs.

Other information related to production in January for the Finishing Department:

Beginning work$-$in$-$process units $24,000$

Good units completed this period $51,000$

Ending work$-$in$-$process units $20,000$

Material costs added $$28,000$

Direct manufacturing labor added $$27,000$

Factory overhead applied $$24,000$

Please typed into Excel