I really need help with this. Attached is a spreadsheet for FIFO - Spoilage, if someone could help I would much appreciate it.

Type in name here: Project 3 Due July 20nd 6 pm CT. Use the data field below to complete the production report on the worksheet named FIFO and record appropriate entry(s) You will be graded on your accuracy of your answer and the usage of excel. Your production report should have no numbers typed in. The production report should be made up of cell references or formulas only. Use the template I have provided to complete the production reports. I have demonstrations with videos taking you through these production reports in the chapter 18 folder. Business Inc. produces all of its products in one department and transfers the costs to finished goods. Beginning work-process was 42% complete as to conversion. Ending work-in-process was 45% complete. All spoilage and is detected at the end of the period. Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. Normal spoilage is 2% of the finished output of good units. % completed this current period in processing department Conversion Materials Costs The information for the current month is as follows: Units: Beginning work-in-process in units Units started Good Units completed Good Units started and completed Ending work-in process in units Units spoiled-normal Units spoiled-abnormal Cost: Beginning Work-in-process direct materials Beginning Work-in-process conversion cost Direct materials added during the month Conversion costs added during the month Check figure 3,000 42,000 43,000 1,000 $10,000 3,000 89,880 70,044 $172,924 Required: Answers to part 1 & 2 should be typed into the yellow cells above. 1. Calculate the good units started and completed and units spoiled this accounting period in column F above that are in yellow above. Normal Spoilage 2% Finished output of good units 2. Determine the percentage of materials and conversion costs used in the current period in columns H and I in yellow above. 3. Prepare a production report for this department using FIFO. 4. Prepare the journal entries to show the costs flowing out of the production department. Grading Rubric: Production report Step 1 Step 2 Steps 3 & Step 5 Journal entries Total pts. 1 3 2 2 2 10 FIFO - Spoilage Quantity Schedule and Equivalent units Step 1 Units to account for: Quantity Schedule Work in process, BI 3,000 Started in production Total Units Step 2 Units to be assigned costs: Good units: Beginning Inventory Started & completed Total Good units Materials Equivalent Units Conversion Normal Spoilage Abnormal Spoilage Work in process, EI Total units to be assigned cost Costs Step 3 Total cost Beginning work in process Costs Whole Materials Conversion Unit Do not fill in since you do not want to double count your BI Current cost this period: Cost to account for: (a) Total equivalent units(taken from above)(b) Leave Blank Cost per equivalent unit (a/b) Leave Blank Total costs to account for-Step 4 Cost Reconciliation: Step 5 Good Units Work in process, Beg. Balance Current cost added to BI Total cost of Beg. Inv. Started and Completed good units Normal Spoilage Transferred out Abnormal Spoilage Work in process, EI balance Total cost to be accounted for: Check figure: Total cost to be accounted for should equal total costs on data sheet 4. Prepare the journal entries to show the costs flowing out of the production department