Question

** SUBMIT IN EXCEL FORMAT

Consider the following information from Manufacturing Inc., then see the instructions that
follow.
Manufacturing Inc. manufactures plastic thing-a-majigs. Materials are added at the beginning
of the production process and conversion costs are incurred uniformly. Production and cost
data for the month of June, 2016 are as follows.
	Production data				Units		Percent Complete
	Work in process units, June 1				2,600		61%
	Units started into production				6,285
	Work in process units, June 30				3,000		38%
	Cost data
	Work in process, June 1
	Materials			$7,250
	Coversion costs			6,050	$13,300
	Direct materials				23,600
	Direct labor				15,850
	Manufacturing overhead				12,750
Instructions:
Prepare a production cost report for the month of June, making sure to show equivalent
units of production for materials and conversion costs, unit costs of production for materials
and conversion costs, and the assignment of costs to units transferred out and in process at
the end of June.
THIS ASSIGNMENT MUST BE COMPLETED IN EXCEL. You should develop an efficient and
customizable production cost report, using formulas whenever possible instead of keyed in
values. No numeric values except the ones shown above should need to be keyed in.

Answer 1

Particulars	Direct materials				Conversion Costs				Total Cost
	Units	% completion	Equivalent Units	Cost	Units	% completion	Equivalent Units	Cost
Work in Process inventory June 1	2,600	100%	2,600	7,250	2,600	61%	1,586	6,050
Processed During the month
Units Started in June	6,285	100%	6,285	23,600	6,285
Work in Process inventory					2,600	39%	1,014
Units Started & Completed in June					3,285	100%	3,285
Units Started & not Complete in June	3,000	100%	3,000	10,416	3,000	38%	1,140	5,623
Total	8,885		8,885	30,850			7,025	28,600
Average Price Per unit				3.47				4.93
Units Completed in June	5,885	100%	5,885	20,434	5,885			29,027	49,461