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. Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B34 enter the formula "=B9". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text. Check your worksheet by changing the beginning work in process inventory to 100 units, the units started into production during the period to 2,500 units, and the units in ending work in process inventory to 200 units, keeping all of the other data the same as in the original example. If your worksheet is operating properly, 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 you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. 200 55% 30% $9,600 $5,575 5,000 $368,600 $350,900 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 8 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 14 Conversion cost 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 19 20 Enter a formula into each of the cells marked with a ? below 21 22 Weighted Average method: 23 24 Equivalent Units of Production 25 26 Units transferred to the next department 27 Equivalent units in ending work in process inventory: 28 Materials 29 Conversion 30 Equivalent units of production 400 40% 25% Materials Conversion ? ? ? ? ? ? ? ? ? ? ? Total ? 45 ? 31 32 Costs per Equivalent Unit 33 Materials Conversion 34 Cost of beginning work in process inventory ? 35 Costs added during the period ? ? 36 Total cost 37 Equivalent units of production ? ? 38 Cost per equivalent unit 39 40 Costs of Ending Work in Process Inventory and the Units Transferred Out 41 Materials Conversion 42 Ending work in process inventory: 43 Equivalent units ? 44 Cost per equivalent unit ? ? Cost of ending work in process inventory ? ? 46 47 Units completed and transferred out: 48 Units transferred to the next department 49 Cost per equivalent unit ? 50 Cost of units transferred out ? 51 52 Cost Reconciliation 53 Costs to be accounted for: 54 Cost of beginning work in process inventory ? 55 Costs added to production during the period ? 56 Total cost to be accounted for ? 57 Costs accounted for as follows: 58 Cost of ending work in process inventory ? 59 Cost of units transferred out 60 Total cost accounted for ? ? ? ? ? ? ? Requirement 2 Change all of the numbers in the data area of your worksheet so that it looks like this: A B 1 2 1 Chapter 4: Applying Excel 200 10% 40% $ 3 Data 4 4 Beginning work in process inventory: 5 5 Units in process 6 6 Completion with respect to materials 7 Completion with respect to conversion 8 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 13 Materials cost 14 Conversion cost 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 958 5,995 17,800 $ 851,768 $1,326,509 100 90 % 10% If your formulas are correct, you should get the correct answers to the following questions. 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 40% to 10%, but keep everything the same as In Requirement 2. The data area of your worksheet should now look like this: B 200 10 % 10% A 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 Costs in the beginning work in process 8 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 14 Conversion cost 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 958 5,995 17.800 $ 851,768 $1,328,509 100 90 % 10% 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 (a) 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. 2 In the welghted-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