Question

EXCEL #1 ASSIGNMENT: Aspire Food Group:

ORIGINAL PROBLEM DATA (1^ST Excel File):

CHECK FIGURES: Conversion: $2.38 per EU

                           7/31/2020 Ending Balance WIP $59,589

A unit of production is one bag of 1,000 crickets. For example, in the brooder department process, there were 6,000 physical units in July in the beginning work-in-process inventory; which are 6,000 bags (each bag contains 1,000 crickets). The following information is available for the brooding department during July for Aspire Food Group

Beginning work in process inventory:

            Units in beginning work in process inventory            6,000 bags

            Materials costs                                                            $38,015

            Conversion costs                                                         $7,700

            Percentage complete with respect to materials           70%

            Percentage complete with respect to conversion        40%

Units started into production during the month                      23,000 bags

Materials costs added during the month                                 $166,870

Conversion costs added during the month                             $51,527

Ending work in process inventory:

            Units in ending work in process                                 9,000 bags

            Percentage complete with respect to materials           75%

            Percentage complete with respect to conversion        45%

WHAT IF ANALYSIS DATA (2^ND Excel File):  

CHECK FIGURE: 08/31/2020 Total cost transferred out to next dept.: $195,654  

Change the date in your data block & in the report heading to be “For the Month Ended August 31, 2020”.  

Your spreadsheets should automatically recalculate using the new data.   You should not have to change any of the cell references or formulas for either of your statements. (If you do—then you have done the cell referencing incorrectly.) You are only changing the Data Block page in your second Excel file for the following information:

Beginning work in process inventory:

            Units in beginning work in process inventory            9,000 bags*

            Materials costs                                                            $49,950*

            Conversion costs                                                         $9,639*

            Percentage complete with respect to materials           75%*

            Percentage complete with respect to conversion*      45%*

Units started into production during the month                      21,000 bags

Materials costs added during the month                                 $138,375

Conversion costs added during the month                             $52,680

Ending work in process inventory:

            Units in ending work in process                               10,000 bags

            Percentage complete with respect to materials           55%

            Percentage complete with respect to conversion        60%

*This is your first Excel file ending work-in-process quantity, percentage of completion and costs for 7/31/2020 in your previous report file for July 2020.

Answer 1

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