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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 ((9,000 units, 25% complete with respect to Department T costs) | ||
Transferred-in costs (from Department S) | $ | 46,550 |
Department T conversion costs | 15,700 | |
Current work (20,500 units started) | ||
Prior department costs | 112,750 | |
Department T costs | 207,050 | |
|
The ending inventory has 4,000 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.)
Physical Units Equivalent Units Prior Department Department T 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 DepartmentT Total units accounted for
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