Help Please!!! Supporting Details

WIP Conversion % is 25 as stated in 4_5png

C C ! Required information The Chapter 4 Form worksheet is to be used to create your own worksheet version of Exhibit 4-5 and Exhibit 4-8 in the text. Requirement 2: Change all of the numbers in the data area of your worksheet so that it looks like this: A B o 1 Chapter 4: Applying Excel 2 3 Data 800 65 % 25 % 8 4 Beginning work in process inventory: 5 Units in process 6 Completion with respect to materials 7 Completion with respect to conversion Costs in the beginning work in process 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 $ $ 17,240 12,136 17,100 $ 570,490 Required information 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 Jlation Process Costing Saved Required information (d) What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion k nt (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 n back to this worksheet. Change the percentage completion with respect to conversion for the beginning inventory from 25% to 10%, but keep e 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 4 800 5 65 % 6 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 10 % 7 00 8 $ 9 $ 17,240 12,136 17,100 10 11 Conversion cost Units started into production during the period Costs added to production during the period: Materials cost 12 13 $ 70,490 $ 1,061,531 14 Conversion cost 15 300 16 Ending work in process inventory Units in process Completion with respect to materials 70% 17 Saved Excel Simulation: Process Costing i 1 Required information If your formulas are correct, you should get the correct answers to the following questions. 11 points (a) What is the equivalent units of production for materials? eBook Equivalent units of production for materials Print (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 Required information (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 Zhich of the following statements are true? (You may select more than one answer. Single click the box with the question mark to duce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. y 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 effect on the cost of the units transferred out. Prey 1 of 1 Next EXHIBIT 4-5 Shaping and Milling Department Production Data for May Units Percent Complete Materials Conversion 55% 30% 200 5,000 Shaping and Milling Department Beginning work in process inventory Units started into production during May Units completed during May and transferred to the next department Ending work in process inventory 4.800 100% 100% 400 40% 25% "We always assume that units transferred out of a department are 100% complete with respect to the processing done in that department. EXHIBIT 4-8 Shaping and Milling Department Cost Data for May Materials Conversion Total Cost of beginning work $ 9,600 $ 5,575 $ 15,175 in process inventory Costs added during the period 368,600 350,900 719.500 Total cost $378,200 $356,475 $734,675 Weighted-Average Method (a separate calculation is made for each cost category in each processing department) Cost of beginning Cost added + work in process inventory during the period Cost per equivalent unit Equivalent units of production Shaping and Milling Department Costs per Equivalent Unit Materials Conversion Cost of beginning work in process inventory $ 9,600 $ 5,575 Costs added during the period 368,600 350.900 Total cost (a) $378,200 $356,475 Equivalent units of production (see Exhibit 4-6)(b) 4,960 4,900 Cost per equivalent unit (a) = (b) $76.25 $72.75