Please, use Excel and show the formulas The Oliver Cards Company is a card manufacturer. All...

Please, use Excel and show the formulas

The Oliver Cards Company is a card manufacturer. All direct materials and conversion costs are applied to all of Proball Trading Cards’ products at an even rate throughout the manufacturing process.

For August, the beginning work in process inventory for the Finishing Department was 9,800 units that averaged 65 percent complete for conversion costs. Materials were done. Ending work in process inventory was 18,600 units averaged 85 percent complete for conversion costs. Materials were done. Production data shows 188,400 units were started during the period. Beginning work in process inventory costs totaled $11,282 including $7,300 for conversion costs. For the month of August, additional costs totaling $75,000 for direct materials and $111,034 for conversion costs were added in the finishing department during the period. Use weighted average method.
1. Prepare in good form a process report.
2. Prepare the journal entry to move costs to finished goods.
3. Prepare any journal entry, if required, for costs remaining in WIP.

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Expert Solution

ekkarill92 answered 1 year ago

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