Accounting excel assignment

Deltex uses a process costing system to account for manufacturing costs. The product passes through three production departments: A, B, and C. In Department A, materials are added at the beginning of the process; conversion costs are added uniformly throughout the process. The following information is available for Department A for the month of March.

 

Department A

Work-in-process inventory, March 1

Physical units (40% complete) 5,000 units

Costs

Direct materials $35,000

Conversion costs $10,000

Production activity, March

Physical units started 50,000 units

Work-in-process inventory, March 31 (30% complete) 10,000 units

Costs added, March

Direct materials $400,000

Conversion costs $184,000

 

Required:

In Excel, prepare a production report for Department A for the month of March using the FIFO method to account for beginning work-in-process inventory.

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