Quantity schedule and Equivalent Units Quantity Schedule Units to be accounted for Work in process, Beginning Started into production 3,000 5,000 8,000 Total units Equivalent Units (EU) Conversion Materials Units accounted for as follows Transferred to packing From begiming inventory Started&completed this month Work in process, Ending Total units and Equivalents units of production 3,000 3,000 2,000 1,500 3,000 1,500 3,000 2.000 8,000 5,000 6,000 Costs per Equivalent Unit Total costs Materials Conversion Whole units Work in process, Beginning Cost added by the department $129,000 $280.000 409,000 S250,000 S30.000 Total cost Equivalents units of production 5,000 $50 6,000 cost per equivalent unit $5 Costs Reconciliation Equivalent Units (EU) Conversion Total cost Materials Costs accounted for as follows: Transferred to packing From beginming inventory Cost in the beginning inventory Cost to complete these units Material Conversion Total costs $129,000 $0 $7,500 $136,500 $165,000 $301,500 $7,000 $7,500 S15,000 $122,000 SO Started and completed this month $150,000 Total costs transferred Work in process, Endimg Material Conversion Total work in process $100,000 $100,000 $7,500 107,500 409,000 $7,500 Total cost accounted for WHAT IF ANALYSIS DATA (2ND Excel File): CHECK FIGURE:01/31/19 Total cost transferred out to next dept.: S674.500 The "What If" part of the assignment will help you determine whether you have correctly used cell referencing in your spreadsheets. In your data block page make the following changes: Beginning inventory for WIP, January 1 is 2,000 units, 100% complete as to material costs and 75% complete as to conversion costs. (This is December 31, 2018 ending inventory from the previous report that you just completed which becomes January 1, 2019 beginning inventory in this report.) 1. Ending WIP inventory, January 31, 2019 is 3,000 units; 100% complete as to material costs and 20% complete as to conversion costs. Units started into production for January are 10,000. Carryover the material and conversion costs assigned to the ending WIP 12/31/18 (from the previous report) as the beginning (January 2019) WIP inventory costs. Costs added during January are: $510,000 for materials and $40,500 for conversion. Change the date in the heading to be "For the Month Ended January 31,2019" 2. 3. 4. 5. 6. Your spreadsheets should automatically recalculate using the new data. You should not have to change any of the cell references or formulas for either of your statements. (If you do then you have done the cell referencing incorrectly.) You are only changing the Data Block page. 1 Data Block: Company Name 4 Name of Department 5 Date 7 Production data: 10 12 14 15 16 Cost data: 17 18 19 20 21 23 24 25 26 28 30 31 32 34 Data Block Production Repor +
