Accounting excel assignment

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.