Kumalae Products assembles units from component parts. It has two departments that process all products. During August, the beginning work in process in the assembly department was half complete as to conversion. Direct materials are added at the beginning of the process. The beginning inventory included $24,000 for materials and $8,000 for conversion costs. Overhead is applied at the rate of 50% of direct manufacturing labor costs. Ending work-in-process inventory in the assembly department was 55% complete.

Beginning work in process in the finishing department was 65% complete as to conversion and ending work in process was 40% converted. Direct materials are added at the end of the process. Beginning inventories included $32,000 for transferred-in costs and $20,000 for direct manufacturing labor costs. Overhead in this department is equal to direct manufacturing labor costs. Additional information about the two departments follows:

	Assembly	Finishing
Beginning work-in-process	40,000	48,000
Units started this period	80,000	?
Units transferred this period	100,000	108,000
Ending work-in-process units	20,000	40,000
Material Costs Added	$88,000	$56,000
Direct Labor	$32,000	$36,000

Both processes are happening in the same period and the finishing department is dependent upon the completion of the assembly department.

Required:

Prepare a production cost worksheet in Excel using weighted-average for the assembly department and FIFO for the finishing department. Prepare the journal entries to move costs from Assembly to Finishing and from Finishing to Finished Goods.