Applying Excel 9: Equivalent units of materials Which of the following formulas correctly calculates the total equivalent units of production for direct materials in cell D22? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Make sure to add parentheses where necessary. Multiple Choice =+D21*B19*C19 =+D21*(B19+C19) =+D21+B19+C19 =+D21+(B19*C19) A B D E 1 Wild Company uses the weighted average method of process costing. It had 60,000 units in 2 beginning inventory, which were 80% complete as to materials and 65% complete as to 3 conversion. During the month, it started 120,000 units. At the end of the month, 48,000 units were in inventory, which were 75% complete as to materials and 70% complete as to conversion. Cost information is as follows: 4 5 6 Beginning work in process inventory: 7 Direct materials costs $280,800 8 Conversion costs 181,350 9 Total beginning inventory cost $462,150 10 Costs added during the month: 11 Direct materials costs 710,400 12 Conversion costs 580,410 13 Total costs added during the month 1,290,810 14 Total production costs $1,752,960 15 16 Units Materials % Conversion % 17 Beginning Inventory 60,000 80% 65% 18 Units Started 120,000 19 Ending Inventory 48,000 75% 70% 20 21 Units transferred out 132,000 Conversion % 65% 70% 15 16 Units Materials % 17 Beginning Inventory 60,000 80% 18 Units Started 120,000 19 Ending Inventory 48,000 75% 20 21 Units transferred out 22 Total equivalent units of production - direct materials 23 Total equivalent units of production - conversion 24 Cost per equivalent unit of production for direct materials 25 Cost per equivalent unit of production for conversion 26 Cost of units transferred out 27 Cost of units in ending inventory 28 132,000 168,000 165,600 $5.90 $4.60 $1,386,000 366,960 Which of the following formulas correctly calculates the cost of the 48,000 units in ending inventory in cell D27? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Make sure to add parentheses where necessary. Multiple Choice =+(B19*D19*D24)+(B19*C19*D25) =+B19*C19*(D24+B19)*D19*D25 =+B19*C19*D25+B19*D19*D25 =+(B19*C19*D24)+(B19*D19*D25) Which of the following formulas correctly calculates the cost of the 132,000 units transferred out in cell D26? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Make sure to add parentheses where necessary. Multiple Choice =+(D21*D24)+(D21+D25) =+(D21+D24)+(D21*D25) =+D21*D24/D21*D25 =+(D21*D24)+(D21*D25) Applying Excel 9: Cost per equivalent unit of materials Which of the following formulas correctly calculates the cost per equivalent unit of direct materials in cell D24? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Make sure to add parentheses where necessary. Multiple Choice =+C7+C11/D22 =+C7+C11*D22 =+(C7-C11)/D22 =+(C7+C11)/D22