Managerial Accounting Dhinu Srinivasan Spring 2008 Microsoft Excel Assignment 1 In this assignment, you are required to create a spreadsheet for recording the summary transactions of a company, preparing the T-accounts and subsequently the Income Statement. Your spreadsheet should have 3 blocks or sections: (1) data entry, (2) T-accounts for MATERIALS, MOH, WIP, FG and COGS, and (3) Income statement. The data entry section is meant to record all the given transactions relating to labor, materials, overhead items, sales, and inventories. The labels in the data input block for the transactions and other information may be in alphabetical order or follow a timeline – acquisition of inputs, production and finished goods. Once the data entry section is complete, you can create the relevant T-accounts. The idea here is to post the transactions in the data entry section directly into the appropriate T-accounts. This is accomplished using formulas/cell references of Excel. The labels and values in the income statement and T-accounts must be properly cross-referenced with
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