2 Hayword, Inc. uses weighted-average costing and has two departments and has provided data related to its mixing department for the month of July. The Controller has asked you prepare a cost reconciliation report and provide the related computations. Use the information included in the Excel Simulation and the Excel functions described below to complete the task Skipped . Cell Reference: Allows you to refer to data from another cell in the worksheet From the Excel Simulation below, if in a binnkcell, -85 was entered, the formula would output the result from cell 05, or 300 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add) - (minus sign to subtract), asterisk sign to multiply), and/orward slash to divide), From the Excel Simulation below. If in a blank cel=89+810* was entered the formula would add the values from those cells and output the result, or 17.250 in this example, if using the other math symbols the result would output an appropriate answer for its function SUM function; Alows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell" SUM(B13,814" was entered the formula would output the result of adding those two separate colls or 737,320 in this example Similarly, if in a blank cell"SUMB13 814) was entered the formula would output the same result of adding those cells, except they are expressed as a range in the formulo, and the result would be 737.320 in this example 2. Process Costing using the Weigh-Average MethodEx PAGE LAYOUT FORMULAS DATA REVIEW VIEW HOME INSERT Son Formular Normal Page Break Page Custom w Gniew Headings Zoom 100Zoom Window Macres review Layout View Selection WWW Shaw Me Al | Haywoed. In we weighted average costing and has two departments: misine D E Mixing Department 44 Couts of Ending Work in Process Inventory and the Units Transferred Out 45 Materials Conversion Total 16 Ending work in process inventory 47 Equivalent units of production 4 Cost per equivalent unit A 41 Workbook Views Show Zoom Macros A1 : fx Hayword, Inc. uses weighted average costing and has two departments - mixing A B D E 47 Equivalent units of production 48 Cost per equivalent unit 49 Cost of ending work in process inventory 50 51 Units completed and transferred out: 52 Units transferred to the next department 53 Cost per equivalent unit 54 Cost of units transferred out 55 56 4. Prepare reconciliation Mixing Department Cost Reconciliation 59 Costs to be accounted for: 60 Cost of beginning work in process inventory 61 Costs added to production during the period 62 Total cost to be accounted for 63 Costs accounted for as follows: 64 Cost of ending work in process inventory 65 Cost of units transferred out 66 Total cost accounted for 57 58 67 68 69 70 Ch.6 0 Saved Calibri - 11 Paste Cells Font A D E 5 6 8 9 AA % BIU. A. Alignment Number Conditional Format as Cell Editing Formatting Table Styles Clipboard Styles Hayword, Inc. uses weighted-average costing and has two departmen B 1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. 2 The following information relates to work in the mixing department for the month of July: 3 4 Work in process, July 1: Units in process 300 Percent completed with respect to materials 60% 7 Percent completed with respect to conversion 40% Cost in the beginning inventory: Materials cost $10.500 Conversion cost $6,750 11 Units started into production during the period 6,200 12 Costs added to production during the period: 13 Materials cost $330,912 14 Conversion cost S406,408 15 Work in process, July 31: 16 Units in process 450 17 Percent completed with respect to materials 40% 18 Percent completed with respect to conversion 30% 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. 23 Mixing Department 24 Equivalent Units of Production Sheet1 10