Option #1: Wisconsin Milk and Ice Cream Manufacturing (Ensure there are formulas in your excel worksheet)

Wisconsin Milk and Ice Cream Manufacturing operates a single plant in Sun Prairie, Wisconsin. It manufactures milk and ice cream for retail and private label marketers in the Midwest.

Requirements:

  • Compute the Net Realizable Value (NRV) method.
  • Complete the Product Line Income statement for month ended June using the NRV Method

Follow the instructions on the Data tab of the worksheet. Show all calculations within the cells of the Excel spreadsheet. This means that you must use formulas and links so that your thought process can be examined. You must also include a detailed explanation of each journal entry that you make or do not make on each date to convey your thought process. There should be no hard coding of solutions.

 
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