Create a model for a production cost report using the weighted average method for the month of May. You should have an input area in which you put the department information for the month, and an output area that calculates the production cost report. Please include step by step directions(in a text box).After completion of the production cost report using the weighted average method, create a new worksheet and label the tab FIFO. Create a production cost report using the same information using the FIFO method.

Department Data:

Information about units:
Units in beginning WIP	31,000
Started during the month	240,000
Units in Ending WIP	21,000
Percentage of Completion:
Beginning Inventory:
Direct materials	60%
Conversion	40%
Ending Inventory:
Direct Materials	30%
Conversion	60%
Costs in Beginning WIP:
Direct materials	$135,000
Conversion	$210,000
Costs incurred during the month:
Direct Materials	$1,250,000
Direct Labor	$48,000
Overhead	$586,000