Lansing, Inc. provides the following information for one of its department's operations for June (no new...
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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 Beginning inventory ((9,300 units, 30% complete with respect to Department T costs) Transferred-in costs (from Department S) Department T conversion costs Current work (21,100 units started) Prior department costs Department T costs $ 50,900 20,890 122,380 216,410 The ending inventory has 4,300 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.) Flow of units: Units to be accounted for: Beginning WIP 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 Flow of costs: Costs to be accounted for: Physical Units Equivalent Units Prior Department Department T Total Prior Department 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 ((9,300 units, 30% complete with respect to Department T costs) Transferred-in costs (from Department S) Department T conversion costs Current work (21,100 units started) Prior department costs Department T costs $ 50,900 20,890 122,380 216,410 The ending inventory has 4,300 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.) Flow of units: Units to be accounted for: Beginning WIP 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 Flow of costs: Costs to be accounted for: Physical Units Equivalent Units Prior Department Department T Total Prior Department Department T
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