Exercise 8-42 (Algo) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6) Lansing. Ine provides the following information for one of its department's operations for June (no new material is added in Department T) WIP inventory-Department Beginning inventory ((7.900 units, 20x complete with respect to Department T costs) Transferred-in costs (fron Departments) Department T conversion costs Current work (18,300 units started) Prior departinent costs Department T costs $ 32,140 8,556 H0, 520 164,220 The ending Inventory has 2,900 units, which are 60 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Required: a. Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places) Physical Units Equivalent Units Prior Department Department 7,000 18,300 26,200 Flow of units Units to be accounted for Beginning WP inventory Units started this period Total units to account for Units accounted for Completed and transferred out Unitsin ending inventory Prior department Department Total units accounted for 23,300 23300 23,300 2,000 2.900 11.740 25040 20 200 26.200 Prior Department Department 7.900 18,300 26,200 Flow of units: Units to be accounted for Beginning WP inventory Units started this period Total units to account for Units accounted for Completed and transferred out Units in ending inventory Prior department Department T Total units accounted for 23,300 23,300 23,300 2,900 2,900 1,740 25,040 26,200 26,200 Total Prior Department Department T $ 65.990 $ 241,748 307,738 s. 32,140 $ 8,556 80,520 164.228 112,660 $ 172,784 al Flow of costs: Costs to be accounted for Costs in beginning WIP inventory Current period costs 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 WP inventory Total costs accounted for $ 4.30 GA 6.59 $ 3 0