Question

1 Busy Bee Co. manufactures in two Departments: Aand B. Department A adds materials at the beginning of the production process and 2 incurs conversion costs uniformly throughout production. The following data is available for the month of January Units in Process at 1/1 Units placed into Production during January Units Completed and Transferred To Department B during January Stage of Completion Direct Materials Stage of Completion: Conversion Costs 1,000 20,000 17,500 Percentage Beginning Work in Process Direct Materials Beginning Work in Process, Conversion Costs Direct Materials Added in January Conversion Costs Added in January $25,000 $38,000 $ 505.000 $1,220,000 DM JANUARY PRODUCTION REPORT DEPARTMENT A 17 Units to Account For Total Costs to Account For: 18 Beginning Work in Process cell reference LABEL 19 Started into Production cell reference Added in January 20 Total Units to Account For formula Total Costs to Account For LABEL Equivalent Units of LAREL Production 24 Units Accounted For As Follox Total Сс Costs Accounted For As Follows: 25 LABEL cell reference cell reference cell reference LABEL 26 Ending Work in Process formula formula formula LABEL 27 Total Units Accounted For formula formula formula Total Costs Accounted For formula cell reference cell reference formula cell reference cell reference formula formula formula cell reference cell reference formula formula Total formula formule formula OM formula formula formula formula formula formula 30 1. Complete the Production report, entering , labels, cell references and formulas where indicated. 31 2. Print 32 3. Make the following changes to the data section ONLY Change the stage of Completion for Conversion Costs from 60% to 45% Change Beginning Work In Process Direct Materials from $25,000 to $12,000. 35 4. Print 36 5. Print Formulas (CTRL), 33 34

Answer 1

Direct material is added at the beginning of the process. Therefore, the percentage of completion is 100%.

Answer 1

? X GS HOMEINSERT 2019 10 01.xlsx - Microsoft Excel DEVELOPER - 2 Sign in FILE PAGE LAYOUT FORMULAS DATA REVIEW VIEW D L M N O FA Units in process at 1/1 Units placed into production during January Units completed and transferred to department B during January Stage of completion: Direct material Stage of completion: conversion costs 1,000 20,000 17,500 100% 60% $ Beginning work in progress, Direct material Beginning work in progress, conversion costs Direct material added in January Convrrsion costs added in January 25,000 38,000 505,000 1,220,000 $ $ 17 Units to account for: 18 Begiining work in progress 19 Started into production 20 Total units to accounts for Total 1,000 20,000 21,000 January Produxtion report-Department A Cost to account for Total DM Beginning work in progress $ 63,000 $ 25,000 Added in January $ 1,725,000 $ 505,000 Total Cost to account for $ 1,788,000 $ 530,000 Divided: Equivalent unit of production 21,000 Equivalent unit of Cost per Equivalent Unit $ 25.23810 production DM CC Cost accounted for as follows Total DM 17,500 17,500 Cost assigned to units transfe $ 1,564,881 $ 441,667 3,500 2,100 Cost assigned to ending work $ 223,119 $ 88,333 21,000 19,600 Total Cost accounted for $ 1,788,000 $ 530,000 CC $ 38,000 $1,220,000 $1,258,000 19,600 $64.18367 22 24 Units accounted for as follows 25 Units completed and transferred 26 Ending WIP inventory 27 Total units accounts for 28 ... Sheet119 Sheet120 | READY 圖 Total 17,500 3,500 21,000 CC $1,123,214 $ 134,786 $1,258,000 Sheet121 Sheet122 Sheet123 Sheet124 Sheet125 Sheet126 + 1 Activate Windows Go to Settings to activate Windows 0 0 0 -- Search the web and Windows AF ENG 03:58 US 30-10-19

Answer 2 (Change in Stage of completion for Conversion cost = 45% and change in beginning work in progress, direct material = $12,000

? X GS HOMEINSERT 2019 10 01.xlsx - Microsoft Excel DEVELOPER - 2 Sign in FILE PAGE LAYOUT FORMULAS DATA REVIEW VIEW L12 - D G H I J K L M N O FA Units in process at 1/1 Units placed into production during January Units completed and transferred to department B during January Stage of completion: Direct material Stage of completion: conversion costs 1,000 20,000 17,500 100% 45% Beginning work in progress, Direct material Beginning work in progress, conversion costs Direct material added in January Convrrsion costs added in January $ $ $ $ 12,000 38,000 505,000 1,220,000 17 Units to account for: 18 Begiining work in progress 19 Started into production 20 Total units to accounts for Total 1,000 20,000 21,000 January Produxtion report-Department A Cost to account for Total DM CC Beginning work in progress $ 50,000 $ 12,000 $ 38,000 Added in January $ 1,725,000 $ 505,000 $1,220,000 Total Cost to account for $ 1,775,000 $ 517,000 $1,258,000 Divided: Equivalent unit of production 21,000 19,075 Equivalent unit of Cost per Equivalent Unit $ 24.61905 $ 65.95020 production DM Cost accounted for as follows Total DM 17,500 17,500 Cost assigned to units transfe $ 1,584,962 $ 430,833 $1,154,128 3,500 1,575 Cost assigned to ending work $ 190,038 $ 86,167 $ 103,872 21,000 19,075 Total Cost accounted for $ 1,775,000 $ 517,000 $1,258,000 22 CC 24 Units accounted for as follows 25 Units completed and transferred 26 Ending WIP inventory 27 Total units accounts for 28 ... Sheet119 Sheet120 | READY 圖 Total 17,500 3,500 21,000 Sheet121 Sheet122 Sheet123 Sheet 124 Sheet125 Sheet126 = 1 Activate Windows Go to Settings to activate Windows 0 0 0 -- Search the web and Windows AF ENG 03:59 US 30-10-19

Formula View

? X GS HOMEINSERT 2019 10 01.xlsx - Microsoft Excel DEVELOPER - 2 Sign in FILE PAGE LAYOUT FORMULAS DATA REVIEW VIEW H1 x V for Units in process at 1/1 Units placed into production during January Units completed and transferred to departm Stage of completion: Direct material Stage of completion: conversion costs 1000 20000 17500 0.45 Beginning work in progress, Direct material Beginning work in progress, conversion cost Direct material added in January Conversion costs added in January 12000 38000 505000 1220000 17 Units to account for: 18 Begiining work in progress 19 Started into production 20 Total units to accounts for Total =G5 =G6 =B18+B19 January Produxtion report-Department A Cost to account for Beginning work in progress Added in January Total Cost to account for Divided: Equivalent unit of production Cost per Equivalent Unit Total =H18+|18 =H19+119 =G18+G19 DM =G11 =G13 =H18+H19 =C27 =H20/H21 =G12 =G14 =118+|19 =D27 =120/121 22 CC 24 Units accounted for as follows Total 25 Units completed and transferred =G7 26 Ending WIP inventory =B20-B25 27 Total units accounts for =B25+B26 28 ... Sheet119 Sheet120 Sheet121 | READY 圖 Equivalent unit of production DM =B25 =B25 =B26*G8 =B26*69 =C25+C26 =D25+D26 Cost accounted for as follows Cost assigned to units transferred out Cost assigned to ending work in progress Total Cost accounted for Total =125+H25 =126+H26 =G25+G26 DM =C25*H22 =C26*H22 =H25+H26 CC =D25*122 =D26*122 =125+126 Sheet122 Sheet123 Sheet124 Sheet125 Sheet126 + 1 Go to Settings to activate Windows. 0 0 0 -- + 100% A ENG Search the web and Windows 04:04 US 30-10-19