Question

Chapter 4: Applying Excel
Data
Beginning work in process inventory:
Units in process	200
Completion with respect to materials	100%
Completion with respect to conversion	40%
Costs in the beginning work in process inventory:
Materials cost	$2,000
Conversion cost	$800
Units started into production during the period	1,800
Costs added to production during the period:
Materials cost	$18,400
Conversion cost	$38,765
Ending work in process inventory:
Units in process	100
Completion with respect to materials	100%
Completion with respect to conversion	30%
Enter a formula into each of the cells marked with a ? below
Weighted Average method:
Equivalent Units of Production
	Materials	Conversion
Units transferred to the next department	?	?
Ending work in process inventory:
Materials	?
Conversion		?
Equivalent units of production	?	?
Costs per Equivalent Unit
	Materials	Conversion
Cost of beginning work in process inventory	?	?
Costs added during the period	?	?
Total cost	?	?
Equivalent units of production	?	?
Cost per equivalent unit	?	?
Costs of Ending Work in Process Inventory and the Units Transferred Out
	Materials	Conversion	Total
Ending work in process inventory:
Equivalent units of production	?	?
Cost per equivalent unit	?	?
Cost of ending work in process inventory	?	?	?
Units completed and transferred out:
Units transferred to the next department	?	?
Cost per equivalent unit	?	?
Cost of units transferred out	?	?	?
Cost Reconciliation
Costs to be accounted for:
Cost of beginning work in process inventory	?
Costs added to production during the period	?
Total cost to be accounted for	?
Costs accounted for as follows:
Cost of ending work in process inventory	?
Cost of units transferred out	?
Total cost accounted for	?

Answer 1

Answer

• Complete data and missing amounts, along with Row and Column number used in cell reference

A	B	C	D	E
3	Beginning work in process inventory:
4	Units in process	200
5	Completion with respect to materials	100%
6	Completion with respect to conversion	40%
7	Costs in the beginning work in process inventory:
8	Materials cost	$2,000
9	Conversion cost	$800
10	Units started into production during the period	1,800
11	Costs added to production during the period:
12	Materials cost	$18,400
13	Conversion cost	$38,765
14	Ending work in process inventory:
15	Units in process	100
16	Completion with respect to materials	100%
17	Completion with respect to conversion	30%
18
19	Enter a formula into each of the cells marked with a ? below
20
21	Weighted Average method:
22
23	Equivalent Units of Production	Materials	Conversion
24	Units transferred to the next department	1,900	1,900
25	Ending work in process inventory:
26	Materials	100
27	Conversion		30
28	Equivalent units of production	2,000	1,930
29
30	Costs per Equivalent Unit
31		Materials	Conversion
32	Cost of beginning work in process inventory	$2,000	$800
33	Costs added during the period	$18,400	$38,765
34	Total cost	$20,400	$39,565
35	Equivalent units of production	2,000	1,930
36	Cost per equivalent unit	$      10.20	$      20.50
37
38	Costs of Ending Work in Process Inventory and the Units Transferred Out
39		Materials	Conversion	Total
40	Ending work in process inventory:
41	Equivalent units of production	100	30
42	Cost per equivalent unit	$      10.20	$      20.50
43	Cost of ending work in process inventory	$1,020	$615	$1,635
44
45	Units completed and transferred out:
46	Units transferred to the next department	1,900	1,900
47	Cost per equivalent unit	$      10.20	$      20.50
48	Cost of units transferred out	$19,380	$38,950	$58,330
49
50	Cost Reconciliation
51	Costs to be accounted for:
52	Cost of beginning work in process inventory	$2,800
53	Costs added to production during the period	$57,165
54	Total cost to be accounted for	$59,965
55	Costs accounted for as follows:
56	Cost of ending work in process inventory	$1,635
57	Cost of units transferred out	$58,330
58	Total cost accounted for	$59,965

• Cell Referencing used as formula [asked by you]

A	B	C	D	E
3	Beginning work in process inventory:
4	Units in process	200
5	Completion with respect to materials	1
6	Completion with respect to conversion	0.4
7	Costs in the beginning work in process inventory:
8	Materials cost	2000
9	Conversion cost	800
10	Units started into production during the period	1800
11	Costs added to production during the period:
12	Materials cost	18400
13	Conversion cost	38765
14	Ending work in process inventory:
15	Units in process	100
16	Completion with respect to materials	1
17	Completion with respect to conversion	0.3
18
19	Enter a formula into each of the cells marked with a ? below
20
21	Weighted Average method:
22
23	Equivalent Units of Production	Materials	Conversion
24	Units transferred to the next department	=(C4+C10-C15)*100%	=(C4+C10-C15)*100%
25	Ending work in process inventory:
26	Materials	=C15*C16
27	Conversion		=C15*C17
28	Equivalent units of production	=SUM(C24:C27)	=SUM(D24:D27)
29
30	Costs per Equivalent Unit
31		Materials	Conversion
32	Cost of beginning work in process inventory	=C8	=C9
33	Costs added during the period	=C12	=C13
34	Total cost	=+C32+C33	=+D32+D33
35	Equivalent units of production	=C28	=D28
36	Cost per equivalent unit	=+C34/C35	=+D34/D35
37
38	Costs of Ending Work in Process Inventory and the Units Transferred Out
39		Materials	Conversion	Total
40	Ending work in process inventory:
41	Equivalent units of production	=C26	=D27
42	Cost per equivalent unit	=C36	=D36
43	Cost of ending work in process inventory	=+C41*C42	=+D41*D42	=+C43+D43
44
45	Units completed and transferred out:
46	Units transferred to the next department	=C24	=D24
47	Cost per equivalent unit	=C42	=D42
48	Cost of units transferred out	=+C46*C47	=+D46*D47	=+C48+D48
49
50	Cost Reconciliation
51	Costs to be accounted for:
52	Cost of beginning work in process inventory	=C8+C9
53	Costs added to production during the period	=C12+C13
54	Total cost to be accounted for	=+C52+C53
55	Costs accounted for as follows:
56	Cost of ending work in process inventory	=E43
57	Cost of units transferred out	=E48
58	Total cost accounted for	=+C56+C57