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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 (8,300 units, 20% complete with respect to Department T costs) Transferred-in costs (from Departments Department T conversion costs Current work (19,100 units started) Prior department costs Department T costs 37, 100 9,842 91,680 183, 150 The ending inventory has 3.300 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.) Physical Units Equivalent Units Prior Department Department T Flow of units 8.300 19.100 27 400 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 24,100 24.100 24,100 24.100 24.100 24 100 Total Prior Department Department T $ 0 $ 0 5 0 Flow of costs: Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for Cost per equivalent unit Prior department Department I Costs accounted for: Costs assigned to units transferred out Costs of ending WIP inventory Total costs accounted for S 0 $ 0 $ 0
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