Question

1 Required information The Chapter 5 Form worksheet is to be used to create your own worksheet version of Exhibit 5-5 and Exhibit 5-8 in the text. pped Book Print erences Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B34 enter the formula "B9". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text. Check your worksheet by changing the beginning work in process inventory to 300 units, the units started into production during the period to 18,200 units, and the units in ending work in process inventory to 500 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 $20.78 and the cost per equivalent unit for conversion should be $19.67. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2.

very confused :-)

Answer 1

Data
Beginning Work in process Inventory
Units in Process	300
Completion with respect to materials	55%
Completion with respect to conversion	30%
Cost in the beginning work in process inventory
Material Cost	9600
Conversion Cost	5575
Unit Started into production during the year	18200
Costs added to production during the period
Material Cost	368600
Conversion Cost	350900
Ending Work in Process Inventory
Units in Process	500
Completion with respect to materials	40%
Completion with respect to conversion	25%
Weighted Average Method(WAM):
Equivalent Units of Production
Units Transfeered to the Next Department	17700	17700
Equivalent units in ending work in process inventory
Materials	500
Conversion		500
Equivalent Units of Production	18200	18200
Costs per Equivalent Unit
	Materials	Conversion
Cost of beginning work in process inventory	9600	5575
Costs added during the period	368600	350900
Total Cost	378200	356475
Equivalent units of Production	18200	18123
Costs per Equivalent Unit	20.78	19.67
Costs of Ending Work in Process Inventory and the Units Transferred Out
	Materials	Conversion	Total
Ending work in Process Inventory	500	500
Equivalent Units	17700	17700
Cost per Equivalent Unit	20.78	19.67
Cost of ending work in process inventory	10390	9835	20225
Units Completed and transferred out
Units transferred to next department	17700	17700
Cost per Equivalent Unit	20.78	19.67
Cost of units transferred out	367806	348159	715965
Cost Reconcilation
Costs to be accounted for
Cost of beginning work in process inventory	9600
Cost added to production during the period	368600
Total cost to be accounted for	378200
Costs accounted for as follows
Cost of ending work in process inventory	10390
Cost of units transferred out	367806
Total cost accounted for	378196