Required information The Chapter 4 Form worksheet is to be used to create your own worksheet version of Exhibit 4-5 and Exhibit 4-8 in the text. Requirement 2: Change all of the numbers in the data area of your worksheet so that it looks like this: 1234 A Chapter 4: Applying Excel Data Beginning work in process inventory: Units in process B C 5 6 Completion with respect to materials 7 Completion with respect to conversion 700 35 % 70% 8 Costs in the beginning work in process inventory: 9 Materials cost $ 12,144 10 Conversion cost $ 38,682 11 Units started into production during the period 11,000 12 Costs added to production during the period: 13 14 Materials cost Conversion cost $ 553,164 $ 866,730 15 Ending work in process inventory: 16 Units in process 700 CLARIS annen in oronuenn minne ne nenon Required information 15 Ending work in process inventory: Units in process Completion with respect to materials 700 16 17 70% 18 Completion with respect to conversion 70 % 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 Required information (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 Required information 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 70% to 45%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B C 1 Chapter 4: Applying Excel 2 3 Data 4 5 Beginning work in process inventory: Units in process 6 Completion with respect to materials 7 Completion with respect to conversion 700 35% 45 % 8 Costs in the beginning work in process inventory: 9 Materials cost $ 12,144 10 Conversion cost $ 38,682 11 Units started into production during the period 11,000 14 12 Costs added to production during the period: 13 Materials cost Conversion cost 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials $ 553,164 $ 866,730 700 70% 2 Required information 18 Completion with respect to conversion 70 % of 2 ok 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? t Equivalent units of production for materials inces (b) What is the equivalent units of production for conversion? Equivalent units of production for conversion Required information. (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 A Jx 2 3 4 5 1 Chapter 4: Applying Excel Data Beginning work in process inventory: Units in process 700 6 Completion with respect to materials 35% 7 Completion with respect to conversion 70% 8 Costs in the beginning work in process inventory: 9 Materials cost $12,144 10 Conversion cost $38,682 11 Units started into production during the period 12 Costs added to production during the period: 13 14 Materials cost Conversion cost 15 Ending work in process inventory: Units in process 11,000 $553,164 $866,730 700 16 17 Completion with respect to materials 18 Completion with respect to conversion 19 20 Enter a formula into each of the cells marked with a ? below 70% 70% 21 22 Weighted Average method: 23 24 Equivalent Units of Production 25 Materials 10,300 Conversion 10,300 D E 26 Units transferred to the next department 27 Equivalent units in ending work in process inventory: 28 Materials 29 Conversion 30 Equivalent units of production 50 10,300 10,350 31 32 Costs per Equivalent Unit 33 Materials Conversion 34 Cost of beginning work in process inventory $ 12,144 $ 38,682 35 Costs added during the period 36 Total cost $553,164 $866,730 $ 565,308 $ 905,412 37 Equivalent units of production 38 Cost per equivalent unit 2,480 $227.95 2,450 $369.56 39 40 Costs of Ending Work In Process Inventory and the Units Transferred Out 41 42 Ending work in process inventory: 43 Equivalent units 44 Cost per equivalent unit 45 Cost of ending work in process inventory Materials Conversion 2,480 $227.95 80% 2,450 $369.56 50% $19,475 Total 46 47 Units completed and transferred out: 48 Units transferred to the next department 2,400 49 Cost per equivalent unit $80.00 50. Cost of units transferred out $553,164 2,400 $50.00 $866,730 $1,419,894 D E F G C51 xv fx A B 39 40 Costs of Ending Work in Process Inventory and the Units Transferred Out 41 Materials Conversion Total 42 Ending work in process inventory: 43 Equivalent units 44 Cost per equivalent unit 45 Cost of ending work in process inventory 2,480 $227.95 80% 2,450 $369.56 50% $19,475 46 47 Units completed and transferred out: 48 Units transferred to the next department 2,400 2,400 49 Cost per equivalent unit $80.00 $50.00 50 Cost of units transferred out $553,164 $866,730 $1,419,894 51 52 Cost Reconciliation 53 Costs to be accounted for. 54 55 56 57 58 59 60 61 62 63 64 65 66 Cost of beginning work in process inventory Costs added to production during the period Total cost to be accounted for Costs accounted for as follows: Cost of ending work in process inventory Cost of units transferred out Total cost accounted for $ 50,826 $1,419,894 $1,470,720 $ 19,475 715,200 $ 734,675