Question: CD3 -Excel Tutorial CURRENT DESIGNS Building a kayak using the composite method is a very labor-intensive process. In the Fabrication Department, the kayaks go through

CD3 -Excel Tutorial

CURRENT DESIGNS

Building a kayak using the composite method is a very labor-intensive process. In the Fabrication Department, the kayaks go through

several steps as employees carefully place layers of Kevlar in a mold and then use resin to fuse together the layers. The excess resin is

removed with a vacuum process, and the upper shell and lower shell are removed from the molds and assembled. The seat, hatch, and other

components are added in the Finishing Department.

At the beginning of April, Current Designs had 30 kayaks in process in the Fabrication Department. Rick Thrune, the production manager,

estimated that about 80% of the material costs had been added to these boats, which were about 50% complete with respect to the conversion

costs. The costs of this inventory had been calculated to be $8,400 in materials and $9,000 in conversion costs.

During April, 72 boats were started. At the end of the month, the 35 kayaks in the ending inventory had 20% of the materials and 40% of

the conversion costs added to them.

A review of the accounting records for April showed that materials with a cost of $17,500 had been requisitioned by the Fabrication

Department and that the conversion costs for the month were $39,600.

Instructions

Complete a production report for April 2017 for the Fabrication Department using the weighted-average method.

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .

CURRENT DESIGNS

Fabrication Department

Production Cost Report

For the Month ended April 30, 2017

Equivalent Units

Quantities

Physical Units

Materials

Conversion Costs

Units to be accounted for

Work in process, April 1

Value

Started into production

Value

Total units

Units accounted for

Transferred out

Value

Work in process, April 30

Value

Total units

Costs

Materials

Conversion Costs

Total

Unit costs

Total cost(a)

Equivalent units (b)

Value

Unit costs (a) (b)

Costs to be accounted for

Work in process, April 1

Started into production

Total costs

Cost Reconciliation Schedule

Cost accounted for

Transferred out

Work in Process, April 30

Materials

Conversion costs

Total costs

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