Chapter $6$: Applying Excel: Exercise $($Part $2$ of $2)$

Requirement $2$:

Change all numbers in the data area of your worksheet so it looks like this:

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?

$($b$)$ What is the equivalent units of production for conversion?

$($c$)$ What is the cost per equivalent unit for materials?

$($d$)$ What is the cost per equivalent unit for conversion?

$($e$)$ What is the cost of the units transferred out?

Requirement $3$:

Either print a copy of your worksheet or make a copy of the worksheet in your workbook before proceeding. You will need to refer back to this worksheet.

Change the percentage completion with respect to conversion for the beginning inventory from $25\%$ to $35\%,$ but keep everything the same as in Requirement $2.$ The data area of your worksheet should now look like this:

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?

$($b$)$ What is the equivalent units of production for conversion?

$($c$)$ What is the cost per equivalent unit for materials?

$($d$)$ What is the cost per equivalent unit for conversion?

$($e$)$ What is the cost of the units transferred out?

$($f$)$ Which of the following statements are true?

I have attached a screenshot of part $1,$ but here is also the copy and pasted version f the information:

Data

Beginning work in process inventory:

Units in process $200$

Completion with respect to materials $55\%$

Completion with respect to conversion $30\%$

Costs in the beginning work in process inventory:

Materials cost $$9,600$

Conversion cost $$5,575$

Units started into production during the period $5,000$

Costs added to production during the period:

Materials cost $$368,600$

Conversion cost $$350,900$

Ending work in process inventory:

Units in process $400$

Completion with respect to materials $40\%$

Completion with respect to conversion $25\%$

Enter a formula into each of the cells marked with a $?$ below

Weighted Average Method:

Equivalent Units of Production

Materials Conversion

Units transferred to the next department $4,8004,800$

Equivalent units in ending work in process inventory:

Materials $160$

Conversion $100$

Equivalent units of production $4,9604,900$

Costs per Equivalent Unit

Materials Conversion

Cost of beginning work in process inventory $$9,600$ $$5,575$

Costs added during the period $$368,600$ $$350,900$

Total cost $$378,200$ $$356,475$

Equivalent units of production $4,9604,900$

Cost per equivalent unit $$76\mathrm{.}25$ $$72\mathrm{.}75$

Costs of Ending Work in Process Inventory and the Units Transferred Out

Materials Conversion Total

Ending work in process inventory:

Equivalent units $160100$

Cost per equivalent unit $$76\mathrm{.}25$ $$72\mathrm{.}75$

Cost of ending work in process inventory $$12,200$ $$7,275$ $$19,475$

Units completed and transferred out:

Units transferred to the next department $4,8004,800$

Cost per equivalent unit $$76\mathrm{.}25$ $$72\mathrm{.}75$

Cost of units transferred out $$366,000$ $$349,200$ $$715,200$

Cost Reconciliation

Costs to be accounted for:

Cost of beginning work in process inventory $$15,175$

Costs added to production during the period $$719,500$

Total cost to be accounted for $$734,675$

Costs accounted for as follows:

Cost of ending work in process inventory $$19,475$

Cost of units transferred out $$715,200$

Total cost accounted for $$734,675$