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ORIGINAL PROBLEM DATA (1^ST Excel File):

CHECK FIGURES: Materials: $6.30 per EU

Conversion: $26.90 per EU

8/31/2022 EB WIP $8,840

Daosta Incorporated was founded over 75 years ago in Rome, GA. Daostas product is popular in the Rome, GA metropolitan area. The company uses the FIFO method in its process costing system. Production data for the month of August appears below:

Production data:

Units in process, August 1 (materials 50% complete;

conversion 90% complete). . . . . . . . . . . . . . . . . . . . . . 400

Units started into production. . . . . . . . . . . . . . . . . . . . . . . . . . 11,000

Units in process, August 31 (materials 90% complete;

conversion 20% complete) . . . . . . . . . . . . . . . . . . . . . . 800

Cost data:

Work in process inventory, August 1:

Materials cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,300

Conversion cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,576

Cost added during the month:

Materials cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,056

Conversion cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $279,760

REQUIREMENTS:

Part 1: Prepare a complete (including cost reconciliation) FIFO production report using the data from the Data Block. You will need to calculate Units started and completed. Use the Report Format template file for the structure of the report that is on the Text FIFO Example Excel file I have provided.

Part 2: Complete the What If Analysis using the What If Analysis Data on the last page of these instructions.

No Graph is required for this assignment.

NOTE: REQUIRED ELEMENTS:

You must include the required elements listed below for both files or you will receive a ZERO on your assignment.

Data block page

Production Report with cell referencing from data block page and other parts of the Report. Do not type numbers directly into the Report. All amounts must be supported by cell referencing or formulas using cell referencing.

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