Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 ((9,400 units, 20% complete with respect to Department T costs) | ||
Transferred-in costs (from Department S) | $ | 52,390 |
Department T conversion costs | 11,206 | |
Current work (21,300 units started) | ||
Prior department costs | 125,670 | |
Department T costs | 202,950 | |
|
The ending inventory has 4,400 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.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started