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Lansing, Inc. provides the following information for one of its departments operations for June (no new material is added in Department T): WIP inventoryDepartment T
Lansing, Inc. provides the following information for one of its departments operations for June (no new material is added in Department T):
WIP inventoryDepartment T | ||
Beginning inventory ((8,700 units, 20% complete with respect to Department T costs) | ||
Transferred-in costs (from Department S) | $ | 42,380 |
Department T conversion costs | 10,338 | |
Current work (19,900 units started) | ||
Prior department costs | 103,480 | |
Department T costs | 190,350 | |
|
The ending inventory has 3,700 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 T Department Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: C Completed and transferred out Units in ending inventory Prior department Department T Total units accounted for 10 Prior Total Department T Department Flow of costs: Costs to be accounted for Costs in beginning WIP inventory Current period costs $ C 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 forStep by Step Solution
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