80.2K

Verified Solution

Link Copied!

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 ((8,700 units, 20% complete with respect to Department T costs)
Transferred-in costs (from Department S)	$	42,380
Department T conversion costs		10,338
Current work (19,900 units started)
Prior department costs		103,480
Department T costs		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.)

Physical Units Equivalent Units Prior Department T Department Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: C Completed and transferred out Units in ending inventory Prior department Department T Total units accounted for 10 Prior Total Department T Department Flow of costs: Costs to be accounted for Costs in beginning WIP inventory Current period costs $ C 0 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 0 0 0 Total costs accounted for

Answer & Explanation Solved by verified expert

See Answer