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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 (15,000 units, 60% complete with respect to Department T costs) | ||
Transferred-in costs (from Department S) | $ | 116,000 |
Department T conversion costs | 53,150 | |
Current work (35,000 units started) | ||
Prior department costs | 280,000 | |
Department T costs | 209,050 | |
The ending inventory has 5,000 units, which are 20 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.)
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