Exercise 8-41 (Algo) Prepare a Production Cost Report: FIFO Method (LO 8-2,4,5) 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 (7,780 units, 2ex complete with respect to Department T costs) Transferred-in costs (from Department S) Department T conversion costs Current work (17,900 units started) Prior department costs Department T costs $ 29,789 6,815 75,188 136,260 The ending Inventory has 2,700 units, which are 50 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Required: Complete the production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.) Physical Unito Equivalent Units Prior Department Department T ol Flow of units Units to be accounted for Beginning WIP inventory Units started his period Total units to account for Uhis accounted for Completed and transferred out From beginning WP inventory Prior department Department Started and completed currently Unitsin ending WP inventory Prior department Department Total units accounted for 0 Total Prior Department Department OS 0 5 0 Flow of costs: Casts to be accounted for Costs in beginning WP inventory Current period costs Total costs to be accounted for Cost per equivalent un Prior department Department Costs accounted for Costs assigned to units transferred out: Costs from beginning WP inventory Current costs added to complete beginning WP inventory Prior department Department Current costs of units started and completed Prior department Department Total cost transferred out Cost of ending WP inventory Prior department Department Total costs accounted for ols OS 0 os ols