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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
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 ((8,000 units, 20% complete with respect to Department T costs) Transferred-in costs (from Department S Department T conversion costs 33,350 9,020 rent work(18,500 units started) 83,250 168,480 Department T costs The ending inventory has 3,000 units, which are 50 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.) Equivalent Units Physical Units Prior Department 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 Total units accounted for 0 0 Prior Total Department T 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 Total costs accounted for
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