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 B C 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 400 55 % 70 % 8 Costs in the beginning work in process inventory: 9 Materials cost $ 4,176 10 Conversion cost $ 20,628 11 Units started into production during the period 17,900 12 Costs added to production during the period: 13 Materials cost Conversion cost S 338,736 $ 1,321,836 14 Ending work in process inventory: 15 Units in process 100 16 Completion with respect to materials 40 % 17 Completion with respect to conversion 40 % 18 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 80%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B 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 400 55 % 80 % 8 Costs in the beginning work in process inventory: 9 Materials cost $ 4,176 Conversion cost $ 20,628 10 11 Units started into production during the period 17,900 Costs added to production during the period: 12 Materials cost $ 338,736 13 Conversion cost $ 1,321,836 14 Ending work in process inventory: 15 Units in process 16 Completion with respect to materials 100 40 % 17 Completion with respect to conversion 40 % 18 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 Chapter 4: Applying Excel Data Beginning work in process inventory: Units in process 200 Completion with respect to materials 55% Completion with respect to conversion 30% Costs in the beginning work in process inventory: Materials cost $9,600 Conversion cost $5,575 Units started into production during the period 5,000 Costs added to production during the period: Materials cost Conversion cost Ending work in process inventory: $368,600 $350,900 Units in process Completion with respect to materials Completion with respect to conversion 400 40% 25% Enter a formula into each of the cells marked with a ? 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 ? ? ? ? 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 ? ? ? 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: ? ? Page 1 Chapter 4 Applying_Excel_Student_Form (1) Cost of ending work in process inventory Cost of units transferred out Total cost accounted for