Chapter 4: Applying Excel Data Beginning work in process inventory Units in process Completion with respect to materials Completion with respect to conversion Costs in the beginning work in process inventory: 200 70% 95% $5,940 Materials cost $9,472 Conversion cost Units started into production during the period Costs added to production during the period: 19,800 $819,360 Materials cost $1,420,748 Conversion cost Ending work in process inventory: 500 Units in process 30% Completion with respect to materials Completion with respect to conversion 40% Enter a formula into each of the cells marked witha? below Weighted Average method: Equivalent Units of Production Materials Conversion Units transferred to the next department Equivalent units in ending work in process inventory: Materials P Equivalent Units of Production Materials Conversion Units transferred to the next department Equivalent units in ending work in process inventory: ? ? Materials Conversion Equivalent units of production Costs per Equivalent Unit Materials Conversion Cost of beginning work in process inventory ? ? Costs added during the period ? Total cost ? Equivalent units of production Cost per equivalent unit ? Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Total Ending work in process inventory Equivalent units 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 ? C M ? 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 ? ? ? 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 ? 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.) (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
