Check your worksheet by changing the beginning work in process inventory to 100 units, the units started into production during the period to 2,500 units, and the units in ending work in process inventory to 200 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 $152.50 and the cost per equivalent unit for conversion should be $145.50. If you do not get these answers, find the errors in your worksheet and correct them.
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Chapter 4: Applying Excel
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Data
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Work in process, beginning:
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Units in process
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200
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Completion with respect to materials
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55%
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Completion with respect to conversion
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30%
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Costs in the beginning inventory:
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Materials cost
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$9,600
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Conversion cost
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$5,575
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Units started into production during the period
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5,000
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Costs added to production during the period:
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Materials cost
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$368,600
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Conversion cost
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$350,900
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Work in process, ending:
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Units in process
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400
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Completion with respect to materials
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40%
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Completion with respect to conversion
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25%
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Enter a formula into each of the cells marked with a ? below
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Weighted Average method:
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Equivalent Units of Production
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Materials
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Conversion
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Units transferred to the next department
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?
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?
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Ending work in process:
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Materials
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?
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Conversion
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?
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Equivalent units of production
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?
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?
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Costs per Equivalent Unit
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Materials
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Conversion
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Cost of beginning work in process inventory
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?
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?
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Costs added during the period
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?
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?
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Total cost
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?
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?
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Equivalent units of production
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?
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?
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Cost per equivalent unit
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?
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?
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Costs of Ending Work in Process Inventory and the Units Transferred Out
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Materials
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Conversion
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Total
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Ending work in process inventory:
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Equivalent units of production
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?
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?
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Cost per equivalent unit
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?
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?
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Cost of ending work in process inventory
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?
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?
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?
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Units completed and transferred out:
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Units transferred to the next department
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?
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?
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Cost per equivalent unit
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?
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?
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Cost of units transferred out
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?
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?
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?
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Cost Reconciliation
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Costs to be accounted for:
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Cost of beginning work in process inventory
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?
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Costs added to production during the period
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?
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Total cost to be accounted for
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?
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Costs accounted for as follows:
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Cost of ending work in process inventory
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?
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Cost of units transferred out
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?
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Total cost accounted for
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?
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