Question: I finished my excel worksheet for class. Is everything correct here? This is for managerial accounting. Thanks in advance! Data Section: Percent Units Conversion Work

I finished my excel worksheet for class. Is everything correct here? This is for managerial accounting. Thanks in advance!

I finished my excel worksheet for class. Is everything correct here? This

Data Section: Percent Units Conversion Work in process, beginning 60,000 40% HINT: Units completed during the months 210,000 Formulas in RED will be in units Work in process, ending 30,000 70% Forumlas in BLUE will percentages Formulas in GREEN will be in dollars Costs to account for: To find started and completed: Total Completed units - beginning inventory Beginning work in process 94,800 Started during the month - ending inventory Materials added 151,200 Conversion costs incurred 600,300 Total costs to be accounted for $ 846,300 Cost assignment Direct Mat. % % Added Added During Direct Mat. During the Conversion Beginning Direct Whole Units the Month Equiv. Units Month Equiv. Units Inventory Materials Conversion Total Beg. Work in process 50,000 0% 60% 36,000 94,800 104,400 $199,200 Started & Completed 150,000 100% 150,000 100% 150,000 126,000 435,000 $561,000 Ending Work in process 30,000 100% 30,000 70% 21,000 25,200 60,900 $86,100 Total 240,000 180,000 207,000 $94,800 $151,200 $600,300 $846,300 Direct Mat. Conversion Amount reported on the balance sheet as: Cost per 760,200 $ 0.84 $ 2.90 Finished goods inventory $ equivalent unit Work in Process inventory $ 86,100

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