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Lansing, Inc provides the following information for one of its department's operations for June (no now material is added in Department TX $ WP inventory
Lansing, Inc provides the following information for one of its department's operations for June (no now material is added in Department TX $ WP inventory Department Beginning inventory (8400 units, 20% complete with respect to Department costs) Transformed in costs from Departments Department T conversion costs Current work (19.300 units started) Prior departments Department Toots 7.480 94,570 145,920 The ending inventory has 3,400 units, which are 50 percent complete with respect to Department costs and 100 percent complete for prior department costs. Required: Complete the production cost report using FIFO. (Round "Coct por equivalent unit to 2 decimal place.) Physical Units Equivalent Units Prior Department Department T Flow of units Units to be accounted for: Beginning WIP Inventory Units started his period Total units to account for Unts accounted for Completed and transferred out From beginning WP inventory Prior department Department Started and completed currently Units in onding WP inventory Prior department Department Total units accounted for Total Prior Department Department Ols 0 $ Flow of ons: Casts to be accounted for Costs in beginning WP inventory Current period osts Total costs to be accounted for Cost per equivalent Prior department Department Costs accounted for Costs assigned to units transferred out: Costs from beginning WP votary Current costs added to complete beginning WP inventory Prior department Department Current costs of units started and completed Prior department Department Total costs transformed out Cost of ending WP nvertory Prior department Department Total costs counted for $ ols $
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