Fall 2016 Excel #1: Litewave Media Problem and Data Litewave Media, located in the Tampa/St. Petersburg Florida area was named the number one video production firm by 10 Best Production in July 2016. It is known throughout the industry as a premier full service video production company with over 10 years of experience in serving the film and video community. Litewave Media has a proven track record in production and marketing, from reality television shows to feature films to music videos. Though Litwave Media is based in Florida, the company has experience in film production throughout the world. Because the videos differ in length and in complexity of production, Litewave Media uses a job order costing system to determine the cost of each video produced. Studio (manufacturing) overhead is charged to videos on the basis of camera-hours of activity. The company’s predetermined overhead rate for the year is based on a cost formula that estimated $280,000 in manufacturing overhead for an estimated allocation base of 7,000 camera-hours. At the beginning of the year, the inventory balances were as follows: Raw materials inventory (films, costumes) $30,000 Work in process inventory (videos in process) 45,000 Finished goods inventory (finished videos awaiting sale) 81,000 The following transactions were recorded for the year (2015): a. Film, costumes, and similar raw materials purchased on account, $185,000. b. Film, costumes, and other raw materials issued to production, $200,000 (85% of this material was considered direct to the videos in production, and the other 15% was considered indirect). c. Costs for salaries and wages were incurred as follows: a. Direct labor (actors and directors) $ 82,000 b. Indirect labor (carpenters to build sets, costume designers, etc.) 110,000 c. Administrative salaries 95,000 d. Utility costs incurred in the production studio, $72,000 e. Depreciation recorded on the studio, cameras, and other equipment, $84,000. Three-fourths of this depreciation related to actual production of the videos, and the remainder related to equipment used in marketing and administration. f. Advertising expense, $130,000. g. Prepaid insurance expired during the year, $7,000 (80% related to production of videos, and 20% related to marketing and administrative activities). h. Miscellaneous marketing and administrative expenses incurred, $8,600 i. Studio (manufacturing) overhead was applied to videos in production. The company recorded 7,250 camera-hours of activity during the year. j. Videos that cost $550,000 to produce according to their job cost sheets were transferred to the finished videos warehouse to await sale and shipment. k. Sales for the year totaled $925,000 and were all on account. The total cost to produce these videos according to their job cost sheets was $600,000. l. Collections from customers during the year totaled $850,000. m. Payments to suppliers on account during the year, $500 ...

1. Fall 2016 Excel #1: Litewave Media Problem and Data
Litewave Media, located in the Tampa/St. Petersburg Florida
area was named the number one video production firm by 10
Best Production in July 2016. It is known throughout the
industry as a premier full service video production company
with over 10 years of experience in serving the film and video
community. Litewave Media has a proven track record in
production and marketing, from reality television shows to
feature films to music videos. Though Litwave Media is based
in Florida, the company has experience in film production
throughout the world.
Because the videos differ in length and in complexity of
production, Litewave Media uses a job order costing system to
determine the cost of each video produced. Studio
(manufacturing) overhead is charged to videos on the basis of
camera-hours of activity. The company’s predetermined
overhead rate for the year is based on a cost formula that
estimated $280,000 in manufacturing overhead for an estimated
allocation base of 7,000 camera-hours. At the beginning of the
year, the inventory balances were as follows:
Raw materials inventory (films, costumes)
$30,000
Work in process inventory (videos in process)
45,000
Finished goods inventory (finished videos awaiting sale)
81,000
The following transactions were recorded for the year (2015):
a. Film, costumes, and similar raw materials purchased on
account, $185,000.
b. Film, costumes, and other raw materials issued to production,
$200,000 (85% of this material was considered direct to the
videos in production, and the other 15% was considered

2. indirect).
c. Costs for salaries and wages were incurred as follows:
a. Direct labor (actors and directors) $ 82,000
b. Indirect labor (carpenters to build sets,
costume designers, etc.) 110,000
c. Administrative salaries 95,000
d. Utility costs incurred in the production studio, $72,000
e. Depreciation recorded on the studio, cameras, and other
equipment, $84,000. Three-fourths of this depreciation related
to actual production of the videos, and the remainder related to
equipment used in marketing and administration.
f. Advertising expense, $130,000.
g. Prepaid insurance expired during the year, $7,000 (80%
related to production of videos, and 20% related to marketing
and administrative activities).
h. Miscellaneous marketing and administrative expenses
incurred, $8,600
i. Studio (manufacturing) overhead was applied to videos in
production. The company recorded 7,250 camera-hours of
activity during the year.
j. Videos that cost $550,000 to produce according to their job
cost sheets were transferred to the finished videos warehouse to
await sale and shipment.
k. Sales for the year totaled $925,000 and were all on account.
The total cost to produce these videos according to their job
cost sheets was $600,000.
l. Collections from customers during the year totaled $850,000.
m. Payments to suppliers on account during the year, $500,000;
payments to employees for salaries and wages, $285,000.
REQUIRED:
1. Prepare a schedule of cost of goods manufactured.
2. Prepare a schedule of cost of goods sold.
3. Prepare an income statement for the year.
EXTRA CREDIT (Worth 2.5 pts): Video Job 207 was one of
the many jobs started and completed during the year. The job

3. required $15,000 in direct materials, $6,000 in direct labor cost
and used 145 camera hours. (Hint: You will need to calculate
the MOH applied to the job.) If the company billed the job at
115% above the cost, what price would have been charged to the
customer? Show all computations in your data block page.
The What If part of the assignment will also have an extra
credit part worth 2 pts. See your Excel Instructions under What
If.
ACCY 207
EXCEL ASSIGNMENT #1
Fall 2016
DUE DATE: Tuesday, 09/20/2016
CHECK FIGURES: MOH $9,400 overapplied
NOI: $78,400
REQUIRED ELEMENTS:
To receive credit for this assignment you must complete the
following elements:
· DATA BLOCK PAGE included and the data cell referenced to
your schedules and income statement.
· TWO Logic IF statements.
· Data Block Page Logic IF statement: Include a Logic IF
statement on the data block page to determine under(over)
applied overhead.
· Cost of Goods Sold Logic IF statement: Include a Logic IF
statement in the Schedule of Cost of Goods Sold to determine
whether to add or deduct overhead.
· See below for instructions on the Logic If statements.
REQUIREMENTS:
· Prepare a Data Block page using the raw data in the problem

4. posted to Bb.
· Prepare a Schedule of Cost of Goods Manufactured, Cost of
Goods Sold Schedule and an Income Statement in Excel by cell
referencing the data fromthe data block page.
· Schedules Format: Use the examples in Exhibits 2-11 and 2-
12 on pages 87 - 89 for preparing the Schedules of Cost of
Goods Manufactured, Cost of Goods Sold and the Income
Statement.
· Graph the Selling and Administrative Expenses from the
Income Statement using theoriginal data first then later when
you do the What If. The graph should automatically change for
the new what if data.
· The graph should be a 3-D exploding pie chart with data labels
(category names and dollar amounts should be included in your
data labels).
· Set the decimal to zero.
· DO NOT USE A LEGEND for this assignment.
· The heading should include the company name, a title for the
graph and the time period it covers. (See Graph Hints on the
website.)
· Complete the “What If Analysis” described below. You will
only be changing the data block page. The schedules and
income statement will automatically recalculate once the new
data is entered into the data block page.
GENERAL INFORMATION:
REQUIRED ELEMENT: Data Block Page:
Set up a Data Block page. You will use the data block page as a
“data entry” area and then “cell reference” this information to
the Schedule of Cost of Goods Manufactured, Cost of Goods
Sold Schedule and the Income Statement.
When you do the “What If” part of the assignment, you will
need to save the original file under a new name and then only

5. change the information listed in the Data Block (data entry
area).
Below is a general format for the data block with the first two
cost items in your problem filled in for you. However, you can
construct the data block in any format you choose.
Split Items:For the items that are split between production
(direct and indirect) and period, you will need to include the
amounts for the breakdown between these classifications. For
example, in this problem: Raw materials used is split between
direct and indirect production according to the percentage
related to each classification (illustrated above).
Inventory Ending Balances:
The beginning balances are given in the problem. Input these
into your data block page.
You will need to calculate by formula and cell referencing the
ending balances for RMI, WIP, and FG Inventories in your data
block page. Don’t forget to include COGM and COGS
somewhere in your data block page also. You will need these
items to help you construct the WIP and FG formulas for the
ending inventory balances.
For example the formula for ending RMI is: Beg. Bal. RMI +
Purch. – Used. Use cell references from other parts of your
data block page for the components of the formula so excel can
calculate the End. Bal. RMI. That way when you change the
data input amounts, your ending balances will automatically
recalculate for the What If.
Manufacturing Overhead Calculations:
Since you have listed all of the indirect (MOH) costs in your

6. data block column for Indirect costs, just sum up the total at the
bottom of the table. This is your actual MOH costs incurred.
You will need to include in your data block page the estimated
MOH and the estimated cost driver (allocation base) that are
given in the problem so you can use this information to
calculate the POHR. Next calculate the overhead applied (use
cell references to construct a formula for this in your data
block) and determine if overhead is under/over applied. Include
in your data block page the formula for calculating under or
overapplied overhead and your first Logic If statement. See the
example below.
Total Actual MOH costs: $ ?*
Less Applied Overhead ___?*___
Use a Logic If Statement in this cell based on the cell to the
right. $ ?*
=======
*Use formulas in your data block to calculate these items.
+Instead of just typing in Over or Underapplied overhead, use a
Logic IF statement here. See below for information on how to
construct the Logic IF statement.
REQUIRED ELEMENT: Data Block Logic If Statement
Instructions:
To properly label your under(over) applied overhead, use a
“Logical IF statement.” Instead of typing in “Underapplied
overhead” to the left of the calculated amount have excel
determine the correct result (conclusion) by using a Logic IF
statement instead.
An easy way to have Excel help you create this formula is to
use the formula wizard. Click on the ‘fx’ button beside the
editing toolbar. Use the arrow key to locate more formula
options (sum should be the default). Choose IF. You will be
presented with a box that asks for the necessary data. You can
also modify the formula to include multiple results for multiple
criteria (we may do one of these in a later excel assignment).

7. The general formula for a Logic IF statement is: = If
(condition, true, false)
You must tell Excel what the condition (or test) is (Box 1 in the
Wizard), what to do if that condition is true (Box 2 in the
Wizard), and what to do if that condition is false (Box 3 in the
Wizard). Here the condition (Box 1) is: if the result in the cell
is = > than 0, then have excel type in “Underapplied overhead”
(this is if the condition is true—Box 2), otherwise have excel
type in “Overapplied overhead” (this is if the condition is
false—Box 3).
Schedule of Cost of Goods Manufactured, Costs of Goods Sold
& Income Statement:
Use Exhibits 2-11 and 2-12 for the general format of your
Schedules of Cost of Goods Manufactured and Cost of Goods
Sold and the Income Statement.
Use cell references from the data block to prepare your
Schedules of Cost of Goods Manufactured and Cost of Goods
Sold. Any formulas needed to complete the statement (for
example: adding raw materials used plus direct labor plus total
manufacturing overhead applied to arrive at total manufacturing
costs) should be included in the Schedule of Cost of Goods
Manufactured.
REQUIRED ELEMENT: Cost of Goods Sold Logic If
Statement:
Your second Logic If statement will be in your Cost of Goods
Sold schedule next to the under/(over) applied overhead cell
amount. Let excel determine the result (conclusion).
Again, you will need to include the condition (or test) in box 1
of the wizard (For example: C25>=0); what excel should do if
the test is true (box 2 of the wizard): “Add: Underapplied
overhead”; and what excel should do if the test is false (box 3
of the wizard): “Deduct: Overapplied overhead”.

8. When preparing the Income Statement, use cell references from
the Data Block page or the Schedule of Cost of Goods
Manufactured. Again, any necessary formulas to complete this
statement should be in the Income Statement.
Lastly, in the Income Statement, under “Selling and
administrative expenses:” list out all of the selling and
administrative expenses individually. You should have five
items listed here. This will make it easier for you to graph
these items, since you can just highlight them here when doing
your graph and click F11. A graph will automatically be
inserted into your workbook. If you are using this method,
though, DON’T type across columns. Make each column wide
enough to hold the data in it so information does not “bleed”
across columns.
Schedule Heading:
Add the heading below at the top of your page for the
schedules:
Litewave Media, Inc.
For the Year Ended December 31, 2015
Don’t forget to include the subtitles for each schedule also.
You can bold them and put them in italics as is shown in
Exhibit 2-11.
Be sure your headings on the schedules and on the Income
Statement do not extend beyond the last column of data so your
report will be centered on the page in “print view”. Center the
report horizontally on the page. See Excel Checklist on Bb for
information on how to do this if you are not sure.
Income Statement Heading:

9. Add the heading below at the top of your income statement:
Litewave Media, Inc.
Income Statement
For the Year Ended December 31, 2015
Use the Exhibits on pg. 87-89 in the book for where and how to
do your dollar signs, underlines, indentions, descriptive labels,
column formatting, etc.
SAVING YOUR FILES:
Save the original file according to the following name format:
Original data file: (Your Last Name, First Name Initial)
Excel#1.
For Example: SmithJExcel1.xls or SmithJExcel1.xlsx
(depending on which version of Microsoft you are using).
Save the what if file according to the following name format:
Open the original file and save it under the new following name
format:
What If data file: (Your last name, First name initial), Excel
IF#1
For Example: SmithJExcelIF1.xls or SmithJExcelIF1.xlsx
(depending on which version of Microsoft you are using).
WHAT IF ANALYSIS:Check Figure: Net Operating Income
$108,100
The “What If” part of the assignment will help you determine
whether you have correctly used cell referencing in your
spreadsheets. (You are not using the “What If Analysis” in
excel – you are using a duplicate original data file saved under
a new file name.)
Demand has increased significantly since 10 Best Production
released its list of the ten best video production firms in 2016.
As a consequence the firm’s goal is to control the increase in

10. costs in relationship to its revenues. Make the following
changes to your data block page:
1. Sales have increased to $1,000,000. The total cost to produce
(manufacture) the videos according to their job costs sheets was
$620,000.
2. Raw material purchases for film, costumes, and similar items
have increased to $225,000.
3. Raw material used was $220,000 (85% of this material was
considered direct to the videos in production, and the other 15%
was considered indirect).
4. Litewave Media, Inc. hired another part-time sales person to
handle the increased demand and an additional “on-call”
carpenter to help in building the sets. Direct labor has also
increased due to an increase in the wage rate paid to the actors.
Due to these changes, Direct labor increased to $90,000;
Indirect labor increased to $135,000, and Administrative
salaries increased to $105,000.
5. Miscellaneous marketing costs increased to $8,800.
6. The company signed a policy with a new insurance company.
Prepaid insurance was reduced to $6,000 (85% was related to
video production and the remainder was for the selling and
administrative activities).
7. Advertising has increased to $135,000.
8. Total utility costs for video production has increased to
$78,000.
9. There was no change in depreciation from the previous year.
10. Manufacturing overhead cost was estimated to be $315,000
for 2016 and total camera hours were estimated to be 7,500 for
2016.
11. Actual camera hours were 7,450.
12. Videos that cost $600,000 to produce according to their job
cost sheets were transferred to the finished videos warehouse to
await sale and shipment.
13. You will need to change the beginning of year inventory
balances. The amounts listed below are the carryover balances
from 2015 (excel should automatically calculate the ending

11. balances if you used formulas and cell references in the original
data block page):
BeginningEnding
Raw materials $15,000 $ ?
Work in process 37,000 ?
Finished goods 31,000 ?
Your schedules and statements should automatically recalculate
using the new data. You should not have to change any of the
cell references or formulas for any of your schedules or
statements. (If you do—then you have done the cell referencing
incorrectly.) You are only changing the Data Block page.
EXTRA CREDIT (2.5 pts):
Job 307 was one of the many jobs started and completed during
the year. The job required $20,000 in direct materials, $5,500
in direct labor cost, and used 160 camera hours. If the company
billed the job at 115% above the cost, what price would have
been charged to the customer? Show all calculations in your
data block page.
Date for What If:
Change the date in the headings to be “For the Year Ending
December 31, 2016”. (If you add the time period in your
heading to your Data Block page and cell reference it to the
statements, you will not have to change each statement heading.
All you will need to do is change the time period in the Data
Block page.) However, you may still need to change the date
in the graph heading.)
SUBMISSION OF YOUR EXCEL ASSIGNMENT:
Put a footer on each page in the bottom right-hand corner which
includes your name, section# and ZID#.Do not type the dots
into your schedules or statements that are in the examples or
homework solutions.
You will submit both files to Bb. The original file should

12. contain the following items:
1. Data Block page with the original problem data
2. Schedules of Cost of Goods Manufactured, Cost of Goods
Sold and Income Statement (using the original problem data).
3. Graph (using the original problem data)
The what if file should contain the following items:
1. Data block page with the “What If Analysis” data.
2. Schedules of Cost of Goods Manufactured, Cost of Goods
Sold and Income Statement (using “What If” data).
3. Graph (using “What If” data)
Please be sure what you turn in is a unique product. You may
work together, but you must each do your own spreadsheet. Do
NOT turn in duplicate spreadsheets. We will assume you
cheated and you both (or all) will get a zero for the assignment.
Save your work frequently! Do not be the next person telling
horror stories about lost work! Back up your work on a disk!
Do not fail to do this! There have been many students over the
years that have had to redo the entire assignment because of a
lack of a backup copy or failing to save their work frequently
while they were working on it.
1
Total
Description:Amount%Direct%Indirect%Period
Raw materials purchased185,000$
Raw materials used200,000$ 85%170,000$ 15%30,000$
Production Costs
Here are some quick steps to help you graph.
1. Highlight the data you want to graph, including the row

13. descriptions and the numbers. Make sure you did not type
across empty columns to use this method.
2. Hit F11 (on the top row of keys). A bar graph will appear on
its own tab and a new spreadsheet will automatically be created
called “Chart”.
3. To change the bar graph to a 3-D pie graph, click on the
Change Chart Type in the menu bar at the top of the page.
Click on the pie graph on the list at the left and then choose one
of the 3-D pie graphs from the options that pop up.
4. Next, click on Chart Layouts in the menu bar at the top of the
page and choose the option that presents the data according to
the excel instructions. For example, if the instructions say to
include data labels and percentages, then you would choose the
first option under Chart Layouts. This will also automatically
delete the legend.
5. To add a heading to your chart, just click on the Chart Title
box and start typing. Make sure your heading has all three
lines: company name, title of chart, and date.
6. To change the number of decimal places for the percentage
labels in the graph, just click on Layout in the menu bar at the
top of the page, then click on Data Labels, choose the “More
Data Labels Options” at the bottom of the pop-up menu, then
click on “Number” in the left menu. Now you can change the
number of decimal places or the formatting of the numbers.
7. You can make other pieces of the graph look prettier by (left)
double clicking and modifying each piece or by just playing
around with some of the other menu options in the tool bar.
8. You can make the graph larger by clicking on the graph so it
appears in a box then right click on the corner of the box (you
should see a double arrow) and drag it up and to the right. If
you wish to move the entire graph to a different location, right
click on the graph and drag it to where you want it to be. Make
sure the graph is not too small for the page. It should be large

14. enough to easily read all of the data included in the graph.
9.
You can rotate the graph so that some areas of the graph that are
small will show up better by right clicking on the graph and
then clicking on “3-D View.”
10 Don’t be afraid of making a mistake. If you do, just use the
undo button on the tool bar or go to Edit/Undo in the pull down
menus.
Good Luck and Have Fun!
Checklist for Excel Assignments
Before turning in your excel assignment make sure you have
done the following:
(
Headings on all financial statements – merge and center across
all columns of data (merge and center button on the tool bar).
Do not merge and center beyond the last column of data in your
spreadsheet.
· Indent when appropriate (Indent using the space bar or there
are also buttons on the tool bar for indenting)
· For underlines (single and double underlines) in the financial
statements, click on Border in the tool bar and then click on the
border that shows the bottom of the cell underlined. Do not use
the document underline option on your tool bar for data cells.
· Numbers should be in accounting format with zero decimals
(Number/under category choose accounting – then change to 0
decimals and no symbol, you will only need to use the dollar
sign on certain cells—see next item) unless otherwise noted in
the instructions.
· Dollar signs need only appear in the first cell of each column

15. and at the solution (Number/under category choose accounting –
then change to 0 decimals and choose the dollar sign symbol).
Do not use “Currency.”
· Remember to use the correct dates – especially when printing
the What If.
· No numbers should be entered directly into the cells on the
statements. All numbers should be entered in the data block
page. On the statements there should only be cell references and
formulas in the cells.
· Try to not put any irrelevant data in the data block. If you
don’t use it in
your statements—then you probably don’t need it! Therefore, it
should not be in your Data Block page.
· On the graph page the percentages should be carried to one
decimal place
unless otherwise noted in the instructions.
· Check your figures with the ones given in the excel
instructions. There will be at least one check figure given for
the original data and for the What If data.
· Don’t forget the footer with your name and section.
· Center the statement on the page horizontally (Print/Print
Preview/Page Setup/Margins/Center horizontally) before
submitting to Bb. .
Sheet1STUDENT NAME:SECTION # SCORE38TA initials:
ACCY 207 EXCEL SPREADSHEET REQUIREMENTS AND
GRADING INFORMATION SHEET The TA will fill out this
form to determine student's grade. Enter all points in absolute
value.Late points and extra credit is added at end of grading
sheet. See bottom of page.DESCRIPTIONMaximum
PointsCorrectIncorrectTA Grading InstructionsNotesCorrect
Answers1919.00.0This category includes 3 pts. extra credit.# of

16. Incorrect answersSee allocation of points on solutionLogic IF
function: REQUIRED ELEMENTZero on entire assignment if
not includedTwo Logic IF RequiredABS function: REQUIRED
ELEMENT (N/A)0N/APV function: REQUIRED ELEMENT
(N/A)0N/AMaximum PointsIncludedNot IncludedTA Grading
InstructionsData block page55.00Zero on entire asssignment if
not includedData block page included and usedand/or used in
both Excel files.Maximum PointsCorrectIncorrectTA Grading
InstructionsProfessional Looking:66.00.0Deduct 1/2 point for
each incorrectGeneral:item up to a maximum of 6 pts.Do not
deduct multiple points forsame error.1. Project format correct
per instructionsSee instructions for example format4. Clip art
pictures inserted (optional) S/b appropriate for project.5.
Colors (if used)S/b professional & business like.6. Words
misspelledDeduct 1/2 point for first item only.Centering (Print
Preview):1. Report on one page.Reports should not be split. 2.
Footer with name & section # S/b at bottom right of each
page.3. Heading centered over report.Check this first.Use Print
view4. Project centered on page horizontally.Then check
this.Use Print view5. Column headings (if any) centered. S/b
centered over column data.Headings:1. Heading has company
name.First line of heading.2. Heading has title of
statement.Second line of heading.3. Heading has proper
date.Third line of heading.Formatting:1. Dollar signs at top of
columns.S/b at first number in each col.2. Dollar sign(s) at
solution(s).All dollar signs s/b left alligned.Use Accounting
format3. Comma separator used.Use Accounting format4.
Whole numbers with zero decimal placesUnless otherwise
instructed.5. Numbers line up on right side.S/b right alligned in
the column.Use Accounting format6. Border underlines
correctly located. Text underlines unacceptable.7. Double
border underlines correctly used.Text underlines
unacceptable.8. Correct indentationPer example or
instructions.Graphs: (if included)Heading:1. Heading centered
over graph.Use Print view2. Company name included in
heading.First line of heading.3. Title of graph included in

17. heading.Second line of heading.4. Correct date included in
heading.Third line of heading.Centering:1. Graph centered in
page.Use Print viewFormatting:1. Graph not substantially too
small/large.Use Print view2. Proper legend format used (or not
used)Per instructions.3. Proper type of graph used. Per
instructions.4. Data labels included/not included. Per
instructions.5. Data percentages included/not included Per
instructions.6. Appropriate decimal places.Per
instructions.Other Errors Not Listed Above: Write In Error
TypeTA Grading Instructions1.Under Professional Looking
2.Category deduct 1/2 point for 3.each error written in. Do not
4.exceed a total of 6 points for all 5.Professional Looking
errors.Maximum PointsCorrectIncorrectTA Grading
InstructionsFormula Page:880Do not deduct more than 8
points.1. Only cell references or formulas withDeduct 1/2 point
for each number cell referencing used in calculationsor
formula not supported by a and reports.cell referenceTotal
Maximum Points3838.00.0Maximum PointsLess: Late
Points120Maximum late pts 12 deducted.Submitted after 9:00
a.m. on due dateDeduct total 2 pts.Submitted 1 day lateDeduct
total 7 pts.Submitted 2 days lateDeduct total 12 pts.Add: Extra
Credit Points50Maximum late pts. 12 deducted.Extra CreditAdd
extra credit pts. Job cost calculation
Sheet2
Sheet3