Use the Weighted- Average Method

A 00 B 1 Chapter 4: Applying Excel 2 700 40 % 60% as $ $ $ 3 Data 4 Beginning work in process inventory: 5 Units in process 6 Completion with respect to materials Completion with respect to conversion 7 Costs in the beginning work in process inventory: 8 Materials cost 9 Conversion cost 10 Units started into production during the period 11 Costs added to production during the period: 12 Materials cost 13 Conversion cost 14 Ending work in process inventory: 15 Units in process 16 Completion with respect to materials 17 Completion with respect to conversion 18 12,846 37,775 17,700 $ 826,206 $ 1,610,055 100 60 % 50 % 00 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 es (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 transforrod out B C 1 Chapter 4: Applying Excel 2 700 40% 80 % 00 $ $ 3 Data 4 Beginning work in process inventory: Units in process 5 6 Completion with respect to materials Completion with respect to conversion 7 Costs in the beginning work in process inventory: Materials cost 9 Conversion cost 10 Units started into production during the period 11 Costs added to production during the period: 12 Materials cost 13 Conversion cost 14 Ending work in process inventory: 15 Units in process 16 Completion with respect to materials 17 Completion with respect to conversion 18 12,846 37,775 17,700 $ 826,206 $ 1,610,055 100 60% 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 (f) Which of the following statements are true? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) In the weighted average method, the percentage completion of beginning inventory has no effect on the equivalent units of production In the weighted average method, the percentage completion of beginning inventory has no effect on the cost per equivalent unit. In the weighted average method, the percentage completion of beginning inventory has no effect on the cost of the units transferred out