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# Materials Cost Accounting in Excel

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Looking for a bit of help with these calculations in an Excel spreadsheet.

The Malbim Company uses a process costing system. Materials are added at the beginning of the process. On July 1 there are 400 units in the beginning inventory that are 100% complete as to materials. With regard to labor and overhead, however, the units in beginning inventory (July 1) are only 75% complete.

During July, 10,000 units were started in production; of these, 7,000 were completed and transferred to the next department. On July 31, the remaining 3,000 units were 20% complete with regard to labor and overhead.

Using the Weighted Average method, calculate the equivalent units of
Direct Materials

Using the FIFO method, calculate the equivalent units of
Direct Materials

#### Solution Preview

Equivalent units

FIFO
Materials Direct labor and factory overhead
Beginning work-in-process
400 units X 75% 300 ...

#### Solution Summary

The following posting discusses the cost of materials for a company.

\$2.19