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 (15,000 units, 60% complete with respect to Department I costs) Transferred-in costs (from Department S) Department I conversion costs Current work (35,000 units started) Prior department costs Department T costs $116,000 53,150 280,000 209,050 The ending inventory has 5,000 units, which are 20 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Required: Complete the production cost report using FlIFO. (Round "Cost per equivalent unit" to 2 decimal places.)
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 (15,000 units, 60% complete with respect to Department I costs) Transferred-in costs (from Department S) Department I conversion costs Current work (35,000 units started) Prior department costs Department T costs $116,000 53,150 280,000 209,050 The ending inventory has 5,000 units, which are 20 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Required: Complete the production cost report using FlIFO. (Round "Cost per equivalent unit" to 2 decimal places.)
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 10E: AAA Appliances Inc. has two production departments. The nature of the process is such that no units...
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