Required information The Chapter 5 Form worksheet is to be used to create your own worksheet version of Exhibit 5-5 and Exhibit 5-8 in the text. Requirement 2: Change all of the numbers in the data area of your worksheet so that it looks like this: 1 Chapter 5: Applying Excel 3 4 100 45 % $ Data 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 Conversion cost Units started into production during the period Costs added to production during the period: Materials cost Conversion cost Ending work in process inventory: Units in process Completion with respect to materials Completion with respect to conversion 807 3,167 11,000 11 12 13 $ $ 344,351 736,747 14 15 16 17 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 45% to 20%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: 1 Chapter 5: Applying Excel 100 25 % 20% 8 / $ $ 3 Data Beginning work in process inventory: 5 Units in process Completion with respect to materials Completion with respect to conversion Costs in the beginning work in process inventory Materials cost 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: Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 807 3,167 11,000 $ 344,351 $ 736,747 400 30 % 90 % 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.) 2 In the weighted-average method, the percentage completion of beginning inventory has no effect on the equivalent units of production. 2 In the weighted average method, the percentage completion of beginning inventory has no effect on the cost per equivalent unit. 2 In the weighted-average method, the percentage completion of beginning inventory has no effect on the cost of the units transferred out
