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...process. The cost of materials, labor, and overhead incurred during such a joint production process are called joint costs. Essay question on pg. 241 For some products, the addition of material in any department after the 1st dept. may increase the number of units being processed. Ex. Assume that a liquid product is being produced. In the 1st department 1000 gallons of various materials are put into production. In the next department, an additional 500 gallons of a different material are added, increasing the number of units being manufactured to 1500. This increase in units has the opposite effect of lost units and requires and adjustment to the unit cost. The calculation of this adjusted unit cost is similar to that made when units are lost, except that the total cost for the original units is now spread over a greater number of units in the subsequent department, thereby reducing the unit cost. Assume that 10000 gallons are used to make Woosh at a cost of 15000 with a unit cost of $1.50. 5000 gallons of additional materials are added the new unit cost is $1.00 per unit because it is spread all over the units. Part 1 For this part be sure to use necessary cell references to write formulas for the first payment row of your schedule. Every cell in this row should be a formula, no numbers should be typed in. You will then be able to copy these formulas to each of the other rows (payments 2 through 240). Be sure to use absolute references where necessary. Any cell reference which uses a cell from the data section needs to be absolute referenced. You will have to use an IF formula to test whether either the loan has been completely paid or whether the time period for the loan has passed, so that for loans with time periods of less than 20 years zeros will appear in the unused part of your table. Part 2 This part will use entirely different formulas from the first part. Do the formulas in the following order and consider the following: The formula for the interest part of the payment. Because of the extra payments the principal will be paid off sooner and the payments will end before 20 years have elapsed. For the month of the last payment the Unamortized Principal at the end of the month will become zero (0). In writing the interest formula use an IF statement to test whether the Unamortized Principal (from the preceding month) is positive (>0). If true, the interest needs to be calculated. If false, a zero should be entered. The formula for the amortization part of the payment. The maximum amount will be the difference between the payment (in your data section) and the interest (already calculated). First test whether the previous month's Unamortized Principal is positive (first IF statement). If true, the amortization needs to be calculated (second argument in the first IF statement), if false, a zero (0) should be entered (third argument in the first IF statement). If true, to calculate it you must test whether the Unamortized Principal is greater than the amount available from the usual payment (second IF stat...