1 Process Costing 2 Using Excel to prepare a production cost report 3 4 Salish Craft...

Transcribed Image Text:

1 Process Costing 2 Using Excel to prepare a production cost report 3 4 Salish Craft Beers provides the following information for the Malting Department for the month of August 2024: 7 569899 Beginning Work-in-Process Inventory Units 2,200 Started in Production in August Costs 2,800 36,000 68,000 ** ** 10 Total to Account For Completed and Transferred to Packaging Department during August 38,200 70,800 30,000 ? Ending Work-in-Process Inventory, 35% complete for direct materials and 65% complete 123 for conversion costs. Total Accounted For 8,200 ? 38,200 70,800 14 15 *Includes $1,200 direct materials (DM) and $1,600 conversion costs (CC). ** Includes $23,000 direct materials (DM) and $45,000 conversion costs (CC). 16 Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. ALWAYS use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 17 Instruction tab you will be marked wrong. Enter all amounts as positive values. Do not use a minus sign or parentheses 18 19 Requirement 1. Complete a production cost report for the Malting Department for the month of August 2024 to determine the cost of the units completed and transferred out, and the cost of the ending Work-in-Process Inventory. 20 Assume Salish Craft Beers uses the weighted-average method. Fill in any headings missing from the 21 2. Post the appropriate amounts to the Work In Process T-account. 22 3. Identify the Cost of Goods Manufactured and Work in Process Ending Inventory balance for the Malting Department for August. 23 24 Excel Skills 2222222222 1 Enter numbers into cells. 2 Create formulas. 25 26 27 3 Format the cells requiring dollar signs. 28 4 Format the cells requiring a single underline and cells requiring double underlines. 29 1 Process Costing 2 Using Excel to prepare a production cost report 3 4 Salish Craft Beers provides the following information for the Malting Department for the month of August 2024: 7 569899 Beginning Work-in-Process Inventory Units 2,200 Started in Production in August Costs 2,800 36,000 68,000 ** ** 10 Total to Account For Completed and Transferred to Packaging Department during August 38,200 70,800 30,000 ? Ending Work-in-Process Inventory, 35% complete for direct materials and 65% complete 123 for conversion costs. Total Accounted For 8,200 ? 38,200 70,800 14 15 *Includes $1,200 direct materials (DM) and $1,600 conversion costs (CC). ** Includes $23,000 direct materials (DM) and $45,000 conversion costs (CC). 16 Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. ALWAYS use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 17 Instruction tab you will be marked wrong. Enter all amounts as positive values. Do not use a minus sign or parentheses 18 19 Requirement 1. Complete a production cost report for the Malting Department for the month of August 2024 to determine the cost of the units completed and transferred out, and the cost of the ending Work-in-Process Inventory. 20 Assume Salish Craft Beers uses the weighted-average method. Fill in any headings missing from the 21 2. Post the appropriate amounts to the Work In Process T-account. 22 3. Identify the Cost of Goods Manufactured and Work in Process Ending Inventory balance for the Malting Department for August. 23 24 Excel Skills 2222222222 1 Enter numbers into cells. 2 Create formulas. 25 26 27 3 Format the cells requiring dollar signs. 28 4 Format the cells requiring a single underline and cells requiring double underlines. 29