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Jsing Excel to Compute Equivalent Units PROBLEM The Smelting Department of Kiner Company has the following production data for November. Units in beginning work in process Units transferred out Units in ending work in process Percentage complete, beginning work in process Materials Conversion costs Percentage complete, ending work in process Materials Conversion costs 2,000 9,000 7,000 100% 20% 100% 40% Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area. Use the SU function with cell references for the totals. Compute the equivalent units of production for (a) materials and (b) conversi costs for the month of November. Units transferred out Work in process, November 30 Materials Materials Conversion Costs

Jsing Excel to Compute Equivalent Units PROBLEM The Smelting Department of Kiner Company has the following production data for November. Units in beginning work in process Units transferred out Units in ending work in process Percentage complete, beginning work in process Materials Conversion costs Percentage complete, ending work in process Materials Conversion costs 2,000 9,000 7,000 100% 20% 100% 40% Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area. Use the SU function with cell references for the totals. Compute the equivalent units of production for (a) materials and (b) conversi costs for the month of November. Units transferred out Work in process, November 30 Materials Materials Conversion Costs

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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### Functions: SUM; Formula: Multiply; Cell Referencing ## Using Excel to Compute Equivalent Units ### PROBLEM The Smelting Department of Kiner Company has the following production data for November: - **Units in beginning work in process**: 2,000 - **Units transferred out**: 9,000 - **Units in ending work in process**: 7,000 #### Percentage complete, beginning work in process - **Materials**: 100% - **Conversion costs**: 20% #### Percentage complete, ending work in process - **Materials**: 100% - **Conversion costs**: 40% ### Student Work Area **Required:** Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area. Use the SUM function with cell references for the totals. **Objective:** Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November. | | Materials | Conversion Costs | |-----------------------------|-----------|------------------| | **Units transferred out** | | | | **Work in process, November 30** | | | | **Materials** | | | | **Conversion costs** | | | | **Total equivalent units** | | | **Note:** The spaces shaded in yellow are where the students should provide their input based on the given data and instructions. ### Instructions for Using Excel: 1. **Input the data values** into the appropriate yellow shaded cells. 2. **Apply cell referencing** to use the data given in the problem section. 3. **Use formulas** to calculate the equivalent units for materials and conversion costs: - For materials, reference the number of units and completion percentage. - For conversion costs, reference the completion percentages both for beginning and ending work in process. 4. **Utilize the SUM function** to total the equivalent units for both categories. ### Explanation of Table: The table is set up to help compute the equivalent units of production for materials and conversion costs. Students must input the data from the problem into the corresponding yellow cells and use Excel functions to calculate the totals. **Bars within Cells:** - There are red and yellow markers within the cells which indicate where students should focus their input and formula applications to achieve the correct results. By correctly filling this table using Excel formulas and cell
Transcribed Image Text:### Functions: SUM; Formula: Multiply; Cell Referencing ## Using Excel to Compute Equivalent Units ### PROBLEM The Smelting Department of Kiner Company has the following production data for November: - **Units in beginning work in process**: 2,000 - **Units transferred out**: 9,000 - **Units in ending work in process**: 7,000 #### Percentage complete, beginning work in process - **Materials**: 100% - **Conversion costs**: 20% #### Percentage complete, ending work in process - **Materials**: 100% - **Conversion costs**: 40% ### Student Work Area **Required:** Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area. Use the SUM function with cell references for the totals. **Objective:** Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November. | | Materials | Conversion Costs | |-----------------------------|-----------|------------------| | **Units transferred out** | | | | **Work in process, November 30** | | | | **Materials** | | | | **Conversion costs** | | | | **Total equivalent units** | | | **Note:** The spaces shaded in yellow are where the students should provide their input based on the given data and instructions. ### Instructions for Using Excel: 1. **Input the data values** into the appropriate yellow shaded cells. 2. **Apply cell referencing** to use the data given in the problem section. 3. **Use formulas** to calculate the equivalent units for materials and conversion costs: - For materials, reference the number of units and completion percentage. - For conversion costs, reference the completion percentages both for beginning and ending work in process. 4. **Utilize the SUM function** to total the equivalent units for both categories. ### Explanation of Table: The table is set up to help compute the equivalent units of production for materials and conversion costs. Students must input the data from the problem into the corresponding yellow cells and use Excel functions to calculate the totals. **Bars within Cells:** - There are red and yellow markers within the cells which indicate where students should focus their input and formula applications to achieve the correct results. By correctly filling this table using Excel formulas and cell
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