Cell Reference: Allows you to refer to data from another cell in the worksheet From the Excel Simulation below, if in a blank cell, =B5" was entered the formula would output the result from cell B5, 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 / (forward slash to divide). From the Excel Simulation below, if in a blank cell-B9-B10" 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: Allows 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(B13,014)" was entered, the formula would output the result of adding those two separate cells, or 737,320 in this example. Similarly, if in a blank cell"=SUM(B13:314)" was entered the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 737,320 In this example. KU Process Costing using the Weighted Average Method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW 7 S 5 X FILE HOME INSERT Sign In Calibri - 11 AA % D- M Paste BIU- -A Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 fx Hayword, Inc. uses weighted average costing and has two departments - mixing A B D E 500 UN 300 60% 40% $10,500 $6,750 6,200 4 Work in process, July 1: 5 Units in process 6 Percent completed with respect to materials 7 Percent completed with respect to conversion 8 Cost in the beginning inventory: 9 Materials cost 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost 15 Work in process, July 31: 16 Units in process 17 Percent completed with respect to materials 18 Percent completed with respect to conversion 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. $330,912 $406,408 450 40% 30% Materials Conversion Units transferred to the next department Ending work in process: Materials Conversion Equivalent units of production 2. Compute cost per equivalent unit. Mixing Department Cost per Equivalent Unit Materials Conversion Cost of beginning work in process Cost added during the period Total cost Equivalent units of production Cost per equivalent unit 3. Assign costs. Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Ending work in process inventory: Equivalent units of production Cost per equivalent unit Total + 44 45 Total 99 Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion 26 Ending work in process inventory: #7 Equivalent units of production #8 Cost per equivalent unit 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. 57 Mixing Department Cost Reconciliation 59 Costs to be accounted for: 50 Cost of beginning work in process inventory $1 Costs added to production during the period 2 Total cost to be accounted for 3 Costs accounted for as follows: Cost of ending work in process inventory 5 Cost of units transferred out 6 Total cost accounted for 000 un + 4 Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory Units completed and transferred out: Units transferred to the next department Cost per equivalent unit Cost of units transferred out 4. Prepare reconciliation. Mixing Department Cost Reconciliation Costs to be accounted for: 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 +