Chapter 4: Applying Excel: Exercise (Part 2 of 2) Requirement 2: Change all of the numbers in the data area of your worksheet so that it looks like this: A 1 Chapter 4: Applying Excel 2 3 Data 4 Beginning work in process inventory: 5 6 Units in process Completion with respect to materials B C 200 70 % 70 % 7 Completion with respect to conversion 8 Costs in the beginning work in process inventory: 9 Materials cost $ 6,382 10 Conversion cost $ 12,284 Units started into production during the period 19,300 12 Costs added to production during the period: 13 Materials cost $ 875,156 14 $ 1,685,500 Conversion cost 15 Ending work in process inventory: 16 17 18 Units in process Completion with respect to materials Completion with respect to conversion 100 60% 70 % 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.) Cost per equivalent unit for materials (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 Requirement 3: Either print a copy of your worksheet or make a copy of the worksheet in your workbook before proceeding. You will need to refer back to this worksheet. Change the percentage completion with respect to conversion for the beginning inventory from 70% to 60%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B C 1 Chapter 4: Applying Excel 2 3 Data 4 Beginning work in process inventory: 5 Units in process 6 Completion with respect to materials 7 Completion with respect to conversion 200 70% 60% 8 Costs in the beginning work in process inventory: 9 Materials cost $ 6,382 10 Conversion cost $ 12,284 11 Units started into production during the period 19,300 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost $ 875,156 $ 1,685,500 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials 100 60 % 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.) Cost per equivalent unit for materials (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 (f) Which of the following statements are true? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) In the weighted-average method, the percentage completion of beginning inventory has no effect on the equivalent units of production. ? In the weighted-average method, the percentage completion of beginning inventory has no effect on the cost per equivalent unit. ? In the weighted-average method, the percentage completion of beginning inventory has no effect on the cost of the units transferred out