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 25% to 5%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B C 1 Chapter 5: Applying Excel 2 3 Data 4 Beginning work in process inventory: 5 Units in process 800 6 Completion with respect to materials 75 % 7 Completion with respect to conversion 5 % 8 Costs in the beginning work in process inventory: 9 Materials cost $ 17,660 10 Conversion cost $ 18,197 11 Units started into production during the period 14,600 12 Costs added to production during the period: 1 3 Materials cost $ 424,810 14 Conversion cost $ 1,345,153 15 Ending work in process inventory: 16 Units in process 500 17 Completion with respect to materials 30 % 18 Completion with respect to conversion 70 % 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? CT.) - _ _ _ III (b) What is the equivalent units of production for conversion? l (c) What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) l (d) What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) l (e) What is the cost of the units transferred out? l