This exercise relates to the Double Diamond Skis' Shaping and Milling Department that was discussed earlier in the chapter. The Excel worksheet form that appears below consolidates data from Exhibits 4-5 and 4-8 Q. Download the workbook containing this form from Connect, where you will also receive instructions about how to use this worksheet form. D 30% B 1 Chapter 4: Applying Excel 2 3 Data 4 Beginning work in process inventory: 5 Units in process 200 6 Completion with respect to materials 55% 7 Completion with respect to conversion 8 Costs in the beginning work in process inventory 9 Materials cost $9,600 10 Conversion cost $5,575 11 Units started into production during the period 5,000 12 Costs added to production during the period: 13 Materials cost $368,600 14 Conversion cost $350,900 15 Ending work in process inventory 16 Units in process 400 17 Completion with respect to materials 40% 18 Completion with respect to conversion 25% 19 20 Enter a formula into each of the cells marked with a ? below 21 22 Weighted-Average method: Equivalent Units of Production 25 Materials 26 Units transferred to the next department 27 Ending work in process inventory Materials 29 Conversion 30 Equivalent units of production ? 23 24 Conversion ? ? 28 ? ? ? ? ? ? ? 30 Equivalent units of production 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 Total 42 Ending work in process inventory: 43 Equivalent units of production ? ? 44 Cost per equivalent unit ? ? 45 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: Cost of ending work in process inventory ? 59 Cost of units transferred out 60 Total cost accounted for ? Chapter 4 Form Chapter 4 Formulas Chapter ? ? ? ? ? 58 ? > You should proceed to the requirements below only after completing your worksheet. Page 171 Required: 1. 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. How much is the total cost of the units transferred out? Did it change? Why or why not? 2. Enter the following data from a different company into your worksheet: Beginning work in process inventory: Units in process 200 Completion with respect to materials 100% Completion with respect to conversion 20% Costs in the beginning work in process inventory: Materials cost $2,000 Conversion cost $800 Units started into production during the period 1,800 Costs added during the period: Materials cost $18,400 Conversion cost $38,765 Ending work in process inventory Units in process 100 Completion with respect to materials 100% Completion with respect to conversion 30% What is the cost of the units transferred out? 3. What happens to the cost of the units transferred out in part (2) above if the percentage completion with respect to conversion be $152.50 and the cost per equivalent unit for conversion should be $145.50. If you do not get these answers, lind the errors in your worksheet and correct them. How much is the total cost of the units transferred out? Did it change? Why or why not? 2. Enter the following data from a different company into your worksheet: 200 100% 20% 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 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 $2,000 $800 1,800 $18,400 $38,765 100 100% 30% What is the cost of the units transferred out? 3. What happens to the cost of the units transferred out in part (2) above if the percentage completion with respect to conversion for the beginning inventory is changed from 20% to 40% and everything else remains the same? What happens to the cost per equivalent unit for conversion? Explain