Kumalae Products assembles units from component parts. It has two departments that process all products. During August, the beginning work in process in the assembly department was half complete as to conversion. Direct materials are added at the beginning of the process. The beginning inventory included $24,000 for materials and $8,000 for conversion costs. Overhead is applied at the rate of 50% of direct manufacturing labor costs. Ending work-in-process inventory in the nents assembly department was 55% complete. Beginning work in process in the finishing department was 65% complete as to conversion and ending work in process was 40% converted, Direct materials are added at the end of the process. Beginning inventories included $32,000 for transferred-in costs and $20,000 for direct manufacturing labor costs. Overhead in this department is equal to direct manufacturing labor costs. Additional information about the two departments follows: Assembly Finishing Beginning work-in-process 40,000 48,000Units started this period 80,000 ? Units transferred this period 100,000 108,000 Ending work-in-process units 20,000 40,000 Material Costs Added $88.000 $56,000 Direct Labor $32.000 $36,000Both processes are happening in the same period and the finishing department is dependent upon the completion of the assembly department. Required: Prepare a production cost worksheet in Excel using weighted average for the assembly department and FIFO for the finishing department. Prepare the journal entries to move costs from Assembly to Finishing and from Finishing to Finished Goods.