Baking Company uses an automated process to produce a baking product. For March, the company had...

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Baking Company uses an automated process to produce a baking product. For March, the company had the following activities in the pounding department, which is followed by the mixing department: Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. After the pounding process is done the costs and next production department is the mixing department. The pounding process is the first department in the process. DATA for the pounding department: Beginning work-in-process Degree of Completion of Beginning Work in process at beginning of month Started During March Physical Units Direct Conversion Materials Costs Total Costs 2,000 units $6,080 $8,058 $14,138 100% 85% 14,000 units Completed and transferred out during March 13,000 units 100% 100% Ending Work In process Inventory ???? units Degree of Completed of ending work in process Total costs Added during March 100% $40,000 70% $46,000 $86,000 Required: 1. Prepare a production report for the pounding department using weighted average. Please review exhibit 6.7. Please use the worksheet named weighted average and use only cell referencing and formulas on your production report using this worksheet for your data. 2. Prepare the journal entry to show the costs flowing from the pounding department to the mixing department. You can type in the journal entry below your production report on the appropriate worksheet. 3. Prepare a production report for the pounding department using FIFO. Please use the worksheet named FIFO and use only cell referencing and formulas on your production report using this worksheet for your data. 4. Prepare the journal entry to show the costs flowing from the pounding department to the mixing department. You can type in the journal entry below your production report on the appropriate worksheet. Baking Company uses an automated process to produce a baking product. For March, the company had the following activities in the pounding department, which is followed by the mixing department: Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. After the pounding process is done the costs and next production department is the mixing department. The pounding process is the first department in the process. DATA for the pounding department: Beginning work-in-process Degree of Completion of Beginning Work in process at beginning of month Started During March Physical Units Direct Conversion Materials Costs Total Costs 2,000 units $6,080 $8,058 $14,138 100% 85% 14,000 units Completed and transferred out during March 13,000 units 100% 100% Ending Work In process Inventory ???? units Degree of Completed of ending work in process Total costs Added during March 100% $40,000 70% $46,000 $86,000 Required: 1. Prepare a production report for the pounding department using weighted average. Please review exhibit 6.7. Please use the worksheet named weighted average and use only cell referencing and formulas on your production report using this worksheet for your data. 2. Prepare the journal entry to show the costs flowing from the pounding department to the mixing department. You can type in the journal entry below your production report on the appropriate worksheet. 3. Prepare a production report for the pounding department using FIFO. Please use the worksheet named FIFO and use only cell referencing and formulas on your production report using this worksheet for your data. 4. Prepare the journal entry to show the costs flowing from the pounding department to the mixing department. You can type in the journal entry below your production report on the appropriate worksheet.