A
B
C
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
10
%
7
Completion with...
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Question
Accounting
A
B
C
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
10
%
7
Completion with respect to conversion
45
%
8
Costs in the beginning work in processinventory:
9
Materials cost
$404
10
Conversion cost
$6,210
11
Unitsstarted into production during the period
15,000
12
Costsadded to production during the period:
13
Materials cost
$245,921
14
Conversion cost
$996,935
15
Endingwork in process inventory:
16
Units in process
500
17
Completion with respect to materials
10
%
18
Completion with respect to conversion
50
%
19
If your formulasare correct, you should get the correct answers to the followingquestions.
(a)
What is theequivalent units of production for materials?
(b)
What is the equivalent units of production for conversion?
(c)
What is the cost per equivalent unit for materials? (Round your answer to 2 decimalplaces.)
(d)
What is the cost per equivalent unit for conversion? (Round your answer to 2 decimalplaces.)
(e)
What is the cost of the units transferred out? (Use rounded cost per equivalentunit.)
Requirement3:
Either print a copyof your worksheet or make a copy of the worksheet in your workbookbefore proceeding. You will need to refer back to thisworksheet.
Change the percentage completion with respect to conversion forthe beginning inventory from 45% to 80%, but keep everything thesame as in Requirement 2. The data area of your worksheet shouldnow look like this:
A
B
C
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
10
%
7
Completion with respect to conversion
80
%
8
Costs in the beginning work in processinventory:
9
Materials cost
$404
10
Conversion cost
$6,210
11
Unitsstarted into production during the period
15,000
12
Costsadded to production during the period:
13
Materials cost
$245,921
14
Conversion cost
$996,935
15
Endingwork in process inventory:
16
Units in process
500
17
Completion with respect to materials
10
%
18
Completion with respect to conversion
50
%
19
If your formulasare correct, you should get the correct answers to the followingquestions.
(a)
What is theequivalent units of production for materials?
(b)
What is the equivalent units of production for conversion?
(c)
What is the cost per equivalent unit for materials? (Round your answer to 2 decimalplaces.)
(d)
What is the cost per equivalent unit for conversion? (Round your answer to 2 decimalplaces.)
(e)
What is the cost of the units transferred out? (Use rounded cost per equivalentunit.)
(f)
Which of the following statements are true? (Select all thatapply.)
In the weighted-averagemethod, the percentage completion of beginning inventory has noeffect on the equivalent units of production.
In the weighted-averagemethod, the percentage completion of beginning inventory has noeffect on the cost per equivalent unit.
In the weighted-averagemethod, the percentage completion of beginning inventory has noeffect on the cost of the units transferred out.
Answer & Explanation
Solved by verified expert
3.9 Ratings (657 Votes)
Solution 1 Computation of Equivalent unit of Production Weighted Average Particulars Physical Units Material Conversion Unit completed Transferred out 200 15000 500 14700 14700 14700 Closing WIP 500 Material 10 50 Conversion 50 250 Equivalent units of production 15200 14750 14950 Computation of Cost per equivalent unit of Production Weighted Average Particulars Material Conversion Opening WIP 40400 621000 Cost Added during June 24592100 99693500 Total cost to be accounted for 24632500 100314500 Equivalent units of production 14750 14950 Cost per Equivalent unit 1670
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