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. Materials cost Conversion cost Units started into production during the period Costs added to production during the period: Materials cost Conversion cost Ending work in process inventory: Units in process Completion with respect to materials Completion with respect to conversion 55% 30% $9,600 $5,575 |HD| Req. 1: Enter 100 for the beginning units in process, 2,500 units started into production during the month, and 200 for the ending units in process. If your formulas are correct the cost per equivalent unit for materials should now be $152.50 and the cost per equivalent unit for conversion should be $145.50. If not, go back to the formulas page, make corrections, press the copy formulas button, and recheck your answers until they are correct. When correct, answer the questions below. How much is the total cost of the units transferred out? $368,600 $350,900 40% 25% Did it change? Why or why not? Weighted Average method: 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 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 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 Costs to be accounted for: Cost Reconciliation 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 Materials Conversion Materials Conversion Total =