7 3 Data 4 Beginning work in process inventory: 5 Units in process 6 Completion with respect to materials 7 Completion with respect to conversion 800 65 % 25 % 8 00 Costs in the beginning work in process inventory: 9 Materials cost $ 17,346 10 Conversion cost $ 16,256 11 Units started into production during the period 17,700 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost $ 590,712 $ 1,462,514 16 Units in process 17 15 Ending work in process inventory: Completion with respect to materials 18 Completion with respect to conversion 800 70% 50 % If your formulas are correct, you should get the correct answers to the following questions (a) What is the equivalent units of production for materials? Equivalent units of production for materials (b) What is the equivalent units of production for conversion? Equivalent units of production for conversion (c) What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials (d) What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion (e) What is the cost of the units transferred out? (Round your cost per equivalent unit to 2 decimal places. Cost of units transferred out Change the percentage completion with respect to conversion for the beginning inventory from 25% to 15%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B C 3 Data 4 Beginning work in process inventory: 5 Units in process 800 6 Completion with respect to materials 7 Completion with respect to conversion 65 % 15 % 8 Costs in the beginning work in process inventory: 9 Materials cost 17,346 10 Conversion cost $ 16,256 11 Units started into production during the period 17,700 12 Costs added to production during the period: 13 Materials cost $ 590,712 14 Conversion cost $ 1,462,514 15 Ending work in process inventory: 16 17 18 Units in process Completion with respect to materials Completion with respect to conversion 800 70 % 50 % If your formulas are correct, you should get the correct answers to the following questions. (a) What is the equivalent units of production for materials? Equivalent units of production for materials (b) What is the equivalent units of production for conversion? Equivalent units of production for conversion (c) What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials (d) What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion (e) What is the cost of the units transferred out? (Round your cost per equivalent unit to 2 decimal places.) Cost of units transferred out