Using the Microsoft Excel, kindly prepare a cost production report for Department I and Department...
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Using the Microsoft Excel, kindly prepare a cost production report for Department I and Department II using the Weighted Average Method.
CoursHeroTranscribedText: Paper Needs Inc. has the following production data for the month of June 20xx. DEPARTMENT I Percentage of QUANTITY SCHEDULE Units completion Workin process, beginning 15,000 2/3 com plete Transferred to next department 30,000 Workin process, end 5,000 2/5 com plete COST ANALYSIS DEPARTMENTI Work-in process, beginning Cost from preceding department Costs from this department Materials 916,290 Labor 6,630 Overhead 2,100 Costs added this month Materials P21,720 Labor 14,618 Overhead 5,060 DEPARTMENT" Percentage of completion 9,000 1/3 complete '? 8,000 7/8 complete Units DEPARTMENT II P7,992 3,996 2,664 F61,272 46,620 31,000 In Department I, all materials are added at the start of the process, while labor and overhead are applied evenly throughout the process. In Department ll, 50% of materials are added at the start of the process and the balance is added when the process is 3x1: completed. Conversion costs are applied uniformly to the process
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