Production Data:

Units in process, May $1$; $100\%$ complete as to materials and

$80\%$ complete as to labor and overhead $10,000$

Units started into production during May $100,000$

Units completed and transferred to the next process $95,000$

Units in process, May $31$; $60\%$ complete as to materials and

$20\%$ complete as to labor and overhead $???$

Cost Data:

Work in process inventory, May $1$:

Materials $$1,500$

Labor $1,500$

Overhead $5,400$

Cost added during May

Materials $$154,500$

Labor $22,700$

Overhead $68,100$

Materials are added at several stages during the cooking process, whereas labor and overhead costs are

incurred uniformly.

Prepare production reports for the Cooking Department for May using both the weighted$-$average and

FIFO methods.

Prepare the journal entries associated with: a$)$ the addition of costs in the Cooking Department, and b$)$

the transfer of units to the next department in the process, which is Coloring.

Journal entries should be done using automatic feeds from EXCEL.

Round per unit cost data to the $3$rd decimal place if necessary.

See study guide sheet for more information about the EXCEL part of the assignment.

Adapted from Garrison and Noreen, Mangerial Accounting, Ninth edition, Irwin Mc$-$Graw$-$Hill, $2000.$