Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

stuck on this problem. please help! Lansing, Inc. provides the following information for one of its department's operations for June (no new material is added

image text in transcribed

image text in transcribed

stuck on this problem. please help!

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.) Required: a. Complete the production cost report using the weighted average method. (Round "Cos 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 8,700 19,000 27,700 Units accounted for: 24.000 24,000 24,000 Completed and transferred out Units in ending inventory Prior department 3,700 Department T Total units accounted for 27,700 24,000 24,000 Total Prior Department Department T $ 42,300 $ 10,338 103,400 145,700 190.350 $ 200,688 S 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 T Costs accounted for Costs assigned to units transferred out Costs of ending WIP inventory Total costs accounted for $ 0 $ 0 $ 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Funding And Financing Transport Infrastructure

Authors: Athena Roumboutsos, Hans Voordijk, Aristeidis Pantelias

1st Edition

0367735792, 9780367735791

More Books

Students also viewed these Accounting questions

Question

Do you have little trouble staying up past midnight? Yes No

Answered: 1 week ago

Question

What laws have been passed to legislate ethics?

Answered: 1 week ago