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a. Complete the production cost report using the weighted-average method. (Round Cost per equivalent unit to 2 decimal places.) Complete the production cost report using
a. Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
Complete the production cost report using FIFO
Lansing, Inc. provides the following information for one of its department's operations for June (no new material is added in Department T). WIP inventory-Department T Beginning inventory ((8,500 units, 30 % complete with respect to Department T costs) Transferred-in costs (from Department S) Department T conversion costs Current work (19,500 units started) Prior department costs 39,700 15,190 97,500 Department T costs 168,350 The ending inventory has 3,500 units, which are 60 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Physical Units Equivalent Units Prior Department T Department Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period 0 Total units to account for Units accounted for Completed and transferred out Units in ending inventory Prior department Department T 0 0 0 Total units accounted for Prior Department T Total Department Flow of costs: Costs to be accounted for: Costs in beginning WIP inventory Current period costs $ 0 $ 0 Total costs to be accounted for Cost per equivalent unit Prior department Department T Costs accounted for: Costs assigned to units transferred out Costs of ending WIP inventory 0$ 0 0 Total costs accounted for
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