Requirement 2: Change all of the numbers in the data area of your worksheet so that it looks like this: A B ? 1 Chapter 4: Applying Excel 2 3 Data 4 Beginning work in process inventory: 5 Units in process 800 65 % 6 Completion with respect to materials 7 Completion with respect to conversion 40 % 8 Costs in the beginning work in process inventory: Materials cost 9 10 Conversion cost 11 Units started into production during the period Costs added to production during the period: 12 13. Materials cost 14 Conversion cost 15 Ending work in process inventory: 16 Units in process 700 10 % Completion with respect to materials 18 Completion with respect to conversion 50 % 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 245678 17 $ 6,780 $ 28,339 12,400 $ 156,630 $ 1,084,471 (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 20%, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B ? 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: Materials cost Conversion cost 800 65 % 20 % 9 10 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 10 % 18 Completion with respect to conversion 50 % 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 $ 6,780 $ 28,339 12,400 $ 156,630 $1,084,471 700 (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 EXHIBIT 4-5 Shaping and Milling Department Production Data for May Percent Complete Units Materials Conversion Shaping and Milling Department Beginning work in process inventory 200 55% 30% Units started into production during May 5,000 Units completed during May and transferred to the next department 4,800 100% 100% Ending work in process inventory 400 40% 25% "We always assume that units transferred out of a department are 100% complete with respect to the processing done in that department. EXHIBIT 4-8 Shaping and Milling Department Cost Data for May Materials Conversion Total $ 9,600 $ 5,575 $ 15,175 Cost of beginning work in process inventory 719,500 Costs added during the period 368,600 350,900 Total cost $378,200 $356,475 $734,675 Weighted-Average Method (a separate calculation is made for each cost category in each processing department) Cost of beginning work in process inventory Shaping and Milling Department Costs per Equivalent Unit Cost per equivalent unit Cost of beginning work in process inventory Costs added during the period Total cost (a) Equivalent units of production (see Exhibit 4-6) (b) Cost per equivalent unit (a) (b) Cost added during the period Materials Conversion $9,600 $ 5,575 368,600 350,900 $378,200 $356,475 4,960 4,900 $76.25 $72.75 Equivalent units of production
