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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
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 ((8,700 units, 20% complete with respect to Department T costs). Transferred-in costs (from Department S) Department T conversion costs Current work (19,900 units started) Prior department costs Department T costs. $ 42,380 10,338 103,480 190,350 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.) 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: Costs in beginning WIP inventory Current period costs Physical Units Equivalent Units Prior Department Department T Total 0 0 0 0 Prior Department Department T
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