Final answer:
The question is a college-level business task involving updating an Excel model to account for changes in production data. The student must create a copy of an Excel tab, adjust production figures, and recalculate dependent values.
Step-by-step explanation:
The question involves updating an Excel model to reflect a change in the number of units completed and transferred out, as well as the partially completed units in ending work in process inventory. It is a typical business or accounting problem, often encountered in Cost Accounting courses at the college level. The student is expected to adjust the original Excel model to account for the new data, and then use the model to answer subsequent questions.
When updating the Excel model, the student should:
- Make a copy of the original tab containing the model.
- Adjust quantities to 600 units completed and transferred out.
- Include the 100 partially completed units in the ending work in process inventory.
- Recalculate any dependent values and summarize the new outcomes.
This exercise will help the student understand how production volume changes can affect cost allocation and overall business productivity. By working through this practical example, students can learn to make flexible financial models that can adapt to changing business scenarios.
It is important to follow along with each step in Excel carefully, ensuring that all formulas and data entries are accurate in order to reach reliable conclusions.