ACCTG 231 - Fall 2021 Excel Problem 2 The purpose of the ACCTG 231 excel problems is to provide students practice using an excel spreadsheet to solve short accounting problems related to material covered in class. Information for the Door Company is given below and also entered into the accompanying spreadsheet that you will use to| complete this assignment. One variable, cost of materials included in beginning work-in-process, will be determined by the last 5 digits of each student's WSU ID number. - 82163 . Door Company manufactures one product using a weighted average process costing system. For the current period: Beginning work-in-process (WIP) inventory consisted of 50,000 units with a total cost of $ 158,000. The $158,000 included materials costs of (use the last 5 digits of your student ID- 82163), with the remainder being conversion costs. As of the beginning of the period, the beginning WIP units were 35% complete with regard to materials and 25% complete as to conversion costs). During the period an additional 200,000 units were started into production and costs added during the period were $560,000 of materials and $225,000 of conversion costs. Ending work-in-process consisted of 65,000 units that were 60% complete with regard to materials and 30% complete with regard to conversion costs. . . Required Compute the following, in the spaces indicated in the provided spreadsheet: 1. Compute the number of units completed and transferred out of WIP. (1 point) 2. Compute equivalent units of production for materials and for conversion costs (1 point) 3. Compute the costs per equivalent unit for materials and for conversion costs. (1 point) 4. Assign costs to units completed and transferred out and to units remaining in ending WIP inventory (1 point) 5. Complete the Cost Reconciliation Report presented in the spreadsheet. (1 point) 6. Spreadsheet correctly recomputes when the number of units of beginning WIP is changed (5 points) 1 Compute the number of units completed and transferred out to the Baking Department (1 point) Z Compute equivalent units of production for materials and for conversion costs (1 point) Materials Conversion Units completed Ending WIP Total 3 Curripute the costs per equivalent unit for materials and for conversiuri costs (1 point) Materials Conversion 1 2 Information: 3 4 Units: 5 Beginning Work-in-Process 50,000 6 Ending Work-in-process 65,000 7 Units started during the period 200,000 B 9 Percentage completion: Materials Conversion 10 11 12 Beginning Work-in-Process 35% 25% 13 Ending Work-In-Process 60% 30% 14 15 Costs: Materials Conversion 15 Beginning Work-In-Process #VALUE! 17 Costs added during the period $ 560,000 $ 225,000 18 19 . last 5 digits of your student number 20 (when you enter student ID in cell C16, an amount will appear in cell 016, 21 such that the sum of cells 16 and D16 equal $158,000) 22 23 24 25 26 27 28 29 30 31 4 Assign costs to units completed and transferred to the baking department and to units in ending work-in-process (1 point) Units completed and transferred to Baking Ending work-in-process 5 Complete the Cost Reconciliation Report as indicated below (1 point) Costs to be accounted for Cost of beginning WIP Costs added during the period Tatal Costs to be accounted for Costs accounted for Cost of endling WIP Cost of units transferred out Total costs accounted for