Question

With the data given below we need to fill out the spreadsheet.
Data
Work in process, beginning:
Units in process	200
Completion with respect to materials	55%
Completion with respect to conversion	30%
Costs in the beginning inventory:
Materials cost	$9,600
Conversion cost	$5,575
Units started into production during the period	5,000
Costs added to production during the period:
Materials cost	$368,600
Conversion cost	$350,900
Work in process, ending:
Units in process	400
Completion with respect to materials	40%
Completion with respect to conversion	25%
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	110	60
Ending work in process:
Materials	160
Conversion		100
Equivalent units of production	270	160
Costs per Equivalent Unit
	Materials	Conversion
Cost of beginning work in process inventory	$       9,600	$       5,575
Costs added during the period	$368,600	$350,900
Total cost	$   378,200	$   356,475
Equivalent units of production	270	160
Cost per equivalent unit	$1,400.74	$2,227.97
Costs of Ending Work in Process Inventory and the Units Transferred Out
	Materials	Conversion	Total
Ending work in process inventory:
Equivalent units of production	270	160
Cost per equivalent unit	$1,400.74	$2,227.97
Cost of ending work in process inventory	$378,200	$356,475	$734,675
Units completed and transferred out:
Units transferred to the next department	270	160
Cost per equivalent unit	$1,400.74	$2,227.97
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

Equivalent Units of Production
	Materials	Conversion
Units transferred to the next department (200+5000-400)	4800	4800
Ending work in process:
Materials (400 x 40%)	160
Conversion (400 x 25%)		100
Equivalent units of production	4960	4900
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	4960	4900
Cost of equivalent unit $	76.25	72.75

Cost of Ending Work in Process Inventory and the Units Transferred Out
	Materials	Conversion	Total
Ending work in process inventory:
Equivalent units of production	160	100
Cost per equivalent unit $	76.25	72.75
Cost of ending work in process inventory $	12200	7275	19475
Units completed and transferred out:
Units transferred to the next department	4800	4800
Cost per equivalent unit $	76.25	72.75
Costs of units transferred out $	366000	349200	715200

Cost Reconciliation
Costs to be accounted for:
Cost of beginning work in process inventory $	15175
Costs added to production during the period $	719500
Total cost to be accounted for $	734675
Costs accounted for as follows:
Cost of ending work in process inventory $	19475
Cost of units transferred out $	715200
Total cost accounted for $	734675