use this sheet of paper to understand part 2 the numbers do not correlate
ORIGINAL PROBLEM DATA (1 ST Excel File): CHECK FIGURES: Units started and Completed 160,000 Conversion: $127 per EU 8/31/2023 EB WIP $128,097 Supreme Manufacturing was founded over 35 years ago in East Brunswick, NJ Supreme's Muy Refressc de Tropical line of Horchata, Tamarindo, and Jamaica drinks are lovingly re-created from Latino recipes handed down through the generations. The Muy Reftescig de Tropical line uses only natural cinnamon, vanilla, rice, tamarind root, and hibiscus flower, and is sweetened only with all-natural cane sugar. A long-time cultural favorite, the popularity of Horchata, Tamarindo, and Jamaicas, has exploded in recent years. This is due to both the general market's exposure to aguas frescas, and the rapid growth of the Latino market's population and buying power. The U.S. Latino population is currently growing faster than the general market with growth of 43% over the last 10 years - or 16.3% of the entire U.S. population. Along with this growth, a new awareness of the potential health dangers of processed, sugary foods has emerged across all markets. Muy Refrescg' de Jcopical's, natural ingredients and real cane sugar mean they're free of fat, cholesterol, caffeine, lactose, and gluten. Supreme's Horchata, Tamarindo, and Jamaica: a naturally delicious, healthier alternative to today's sugary sodas. Each flavor is available in 64fl. oz. bottles and sold for $12 each. The first stage in the production process is carried out in the Mixing Department, which removes foreign matter from the raw materials and mixes them in the proper proportions in large vats. The company uses the FIFO method in its process costing system. Production data for the month of August appears below: CHECK FIGURE: Units Started and Completed 180,000 Material: $2.98 per EU 09/30/2023 Total cost transferred out to next dept.: $948,526 The "What If" part of the assignment will help you determine whether you have correctly used cell referencing in your spreadsheets. In your data block page make the following changes: 1. Beginning inventory for WIP, September 1 is 40,000 units; 75% complete as to material costs and 75% complete as to conversion costs. (This is August 31,2023 ending inventory from the previous report which becomes September 1, 2023 beginning inventory in this report.) 2. Ending WIP inventory, September 30,2023 is 20,000 units; 80% complete as to material costs and 75% complete as to conversion costs. 3. Units started into production for September are 200,000 . 4. Carryover the material and conversion costs assigned to the ending WIP August 31, 2023 (from the August report) as the beginning WIP inventory prior period costs. (Material Costs $90,000 and Conversion Costs: $38,097.) 5. Costs added during September are: $613,880 for materials and $274,300 for conversion. 6. Change the date in the heading to be "For the Month Ended September 30,2023. If you prepared part 1 (August 31, 2023 Production Report) correctly your spreadsheets should automatically recalculate using the new data. You should not have to change any of the cell references or formulas for the September 30, 2023 Production Report - If you do then you have done the cell referencing incorrectly. You are only changing the Data Block page. Double Diamond Stis "ixing Dopartment For the Month Ended May 31, 2an dantify Schedule and Equivalent Unis \begin{tabular}{l|r|} \hline nits to be accourked for & 200 \\ Work in process, begining & 5000 \\ \hline Started into production & 5200 \\ \hline \end{tabular} Costs per Equivalent thit Work in prociss, begnning Cost added by the department Total cost Equalent units of production Cost per equivaleot unit Quartis Schidie \begin{tabular}{r} 200 \\ -5000 \\ \hline 5200 \\ \hline \end{tabular} Cost of Ending Wer and Unis Iransferred Out Totil Cost Mxeris Comernion Whole Unt s 15,175 Cost di Ending WPP and Units Transtered OA. Work in process, ending Mutenis: Comertion Coth per Equnclont Unt Total work in process 576004850+54840=514350 Transfered to packagne from the hegrening mmetiony Cost in the begnnma inmertory Cost lo complete beginning muntory. Materials Conerion Cost per Equalent Uhit Total cost to cerrplele tegnima muntory silarted and completed this moneh Cost per Equavilent Una Tot is costs of units stated and completed uns month Total cost transfened Equglint Unts (abow) Matinals Conertion Tatacost Cost Recenciliation Schedule Cests to the acceanted the Coit at begrniceg wock in process Cents molid to groduction during the penitad Tatai cost to be accouried for $60 \begin{tabular}{|c|c|c|} \hline 57400 & 100 & \\ \hline 51250 & \\ \hline 512160 & 57250 & 519410 \\ \hline \end{tabular} Coets mecenented tor Cent of indeq woik in pocess imentar. 50 \begin{tabular}{|c|c|c|} \hline & 140 & \\ \hline sisem & sin50 & \\ \hlinex,340 & 510,150 & $+6,990 \\ \hline 400 & 4600 & \\ \hline 57600 & sin50 & \\ \hline sus 600 & 510500 & sen100 \\ \hline & & 5115265 \\ \hline \end{tabular} Cost of inis trarcheried out Tal at cost isccounted for I 19,410 ORIGINAL PROBLEM DATA (1 ST Excel File): CHECK FIGURES: Units started and Completed 160,000 Conversion: $127 per EU 8/31/2023 EB WIP $128,097 Supreme Manufacturing was founded over 35 years ago in East Brunswick, NJ Supreme's Muy Refressc de Tropical line of Horchata, Tamarindo, and Jamaica drinks are lovingly re-created from Latino recipes handed down through the generations. The Muy Reftescig de Tropical line uses only natural cinnamon, vanilla, rice, tamarind root, and hibiscus flower, and is sweetened only with all-natural cane sugar. A long-time cultural favorite, the popularity of Horchata, Tamarindo, and Jamaicas, has exploded in recent years. This is due to both the general market's exposure to aguas frescas, and the rapid growth of the Latino market's population and buying power. The U.S. Latino population is currently growing faster than the general market with growth of 43% over the last 10 years - or 16.3% of the entire U.S. population. Along with this growth, a new awareness of the potential health dangers of processed, sugary foods has emerged across all markets. Muy Refrescg' de Jcopical's, natural ingredients and real cane sugar mean they're free of fat, cholesterol, caffeine, lactose, and gluten. Supreme's Horchata, Tamarindo, and Jamaica: a naturally delicious, healthier alternative to today's sugary sodas. Each flavor is available in 64fl. oz. bottles and sold for $12 each. The first stage in the production process is carried out in the Mixing Department, which removes foreign matter from the raw materials and mixes them in the proper proportions in large vats. The company uses the FIFO method in its process costing system. Production data for the month of August appears below: CHECK FIGURE: Units Started and Completed 180,000 Material: $2.98 per EU 09/30/2023 Total cost transferred out to next dept.: $948,526 The "What If" part of the assignment will help you determine whether you have correctly used cell referencing in your spreadsheets. In your data block page make the following changes: 1. Beginning inventory for WIP, September 1 is 40,000 units; 75% complete as to material costs and 75% complete as to conversion costs. (This is August 31,2023 ending inventory from the previous report which becomes September 1, 2023 beginning inventory in this report.) 2. Ending WIP inventory, September 30,2023 is 20,000 units; 80% complete as to material costs and 75% complete as to conversion costs. 3. Units started into production for September are 200,000 . 4. Carryover the material and conversion costs assigned to the ending WIP August 31, 2023 (from the August report) as the beginning WIP inventory prior period costs. (Material Costs $90,000 and Conversion Costs: $38,097.) 5. Costs added during September are: $613,880 for materials and $274,300 for conversion. 6. Change the date in the heading to be "For the Month Ended September 30,2023. If you prepared part 1 (August 31, 2023 Production Report) correctly your spreadsheets should automatically recalculate using the new data. You should not have to change any of the cell references or formulas for the September 30, 2023 Production Report - If you do then you have done the cell referencing incorrectly. You are only changing the Data Block page. Double Diamond Stis "ixing Dopartment For the Month Ended May 31, 2an dantify Schedule and Equivalent Unis \begin{tabular}{l|r|} \hline nits to be accourked for & 200 \\ Work in process, begining & 5000 \\ \hline Started into production & 5200 \\ \hline \end{tabular} Costs per Equivalent thit Work in prociss, begnning Cost added by the department Total cost Equalent units of production Cost per equivaleot unit Quartis Schidie \begin{tabular}{r} 200 \\ -5000 \\ \hline 5200 \\ \hline \end{tabular} Cost of Ending Wer and Unis Iransferred Out Totil Cost Mxeris Comernion Whole Unt s 15,175 Cost di Ending WPP and Units Transtered OA. Work in process, ending Mutenis: Comertion Coth per Equnclont Unt Total work in process 576004850+54840=514350 Transfered to packagne from the hegrening mmetiony Cost in the begnnma inmertory Cost lo complete beginning muntory. Materials Conerion Cost per Equalent Uhit Total cost to cerrplele tegnima muntory silarted and completed this moneh Cost per Equavilent Una Tot is costs of units stated and completed uns month Total cost transfened Equglint Unts (abow) Matinals Conertion Tatacost Cost Recenciliation Schedule Cests to the acceanted the Coit at begrniceg wock in process Cents molid to groduction during the penitad Tatai cost to be accouried for $60 \begin{tabular}{|c|c|c|} \hline 57400 & 100 & \\ \hline 51250 & \\ \hline 512160 & 57250 & 519410 \\ \hline \end{tabular} Coets mecenented tor Cent of indeq woik in pocess imentar. 50 \begin{tabular}{|c|c|c|} \hline & 140 & \\ \hline sisem & sin50 & \\ \hlinex,340 & 510,150 & $+6,990 \\ \hline 400 & 4600 & \\ \hline 57600 & sin50 & \\ \hline sus 600 & 510500 & sen100 \\ \hline & & 5115265 \\ \hline \end{tabular} Cost of inis trarcheried out Tal at cost isccounted for I 19,410
