Lansing, Inc. provides the following information for one of its department's operations for June (no new materlal is added in Department T). WIP Laventory-bepartaent ? heginning inventery (,200 saits, 20 complete vith repect to Depacteent T costa) Transferred-in costa (fron bepartnent S) Department T eonversion costs Current vork (20,900 unita started) Prior departnent costa Departnent T costa $49,430 33,760 119,130 235,440 The ending inventory has 4,200 units, which are 50 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Required: Complete the production cost report using FIFO. (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 materlal is added in Department T). WIP Laventory-bepartaent ? heginning inventery (,200 saits, 20 complete vith repect to Depacteent T costa) Transferred-in costa (fron bepartnent S) Department T eonversion costs Current vork (20,900 unita started) Prior departnent costa Departnent T costa $49,430 33,760 119,130 235,440 The ending inventory has 4,200 units, which are 50 percent complete with respect to Department T costs and 100 percent complete for prior department costs. Required: Complete the production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places)
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...
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Question
Complete the production cost report using FIFO.
![Lansing, Inc. provides the following information for one of its department's operations for June (no new materlal is added in
Department T)
WIP inventory-Department T
beginning inventory (9,200 units, 201 complete with respect to
Department T costs)
Transferred-in costa (fron Departnent S)
Departsent T converaion costs
Current vork (20,900 unita started)
Prior departnent costa
Departnent 7 costa
$ 49,430
13,760
119,130
235,440
The ending Inventory has 4,200 units, which are 50 percent complete with respect to Department T costs and 100 percent complete
for prior department costs.
Required:
Complete the production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)
Equivalent Units
Department
Physical
Prior
Department
Units
Flow of units
Units to be accounted for
Beginning WIP inventory
Units started this period
Total units to account for
Unts accounted for
Compieted and transferred out
From beginning WIP invertory
Prior department
Department T
Started and completed currerty
Units in ending WIP inventory
Prior department
Department T
Total units occounted for
Prior
Department
Department
Total
Flow of costs:
Costs to bo accounted for
Next](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17a3837c-98d9-4df5-be63-77cb6b351343%2Fa49cdb0e-626c-43f5-9c22-4f22be952871%2Fqqu6kb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Lansing, Inc. provides the following information for one of its department's operations for June (no new materlal is added in
Department T)
WIP inventory-Department T
beginning inventory (9,200 units, 201 complete with respect to
Department T costs)
Transferred-in costa (fron Departnent S)
Departsent T converaion costs
Current vork (20,900 unita started)
Prior departnent costa
Departnent 7 costa
$ 49,430
13,760
119,130
235,440
The ending Inventory has 4,200 units, which are 50 percent complete with respect to Department T costs and 100 percent complete
for prior department costs.
Required:
Complete the production cost report using FIFO. (Round "Cost per equivalent unit" to 2 decimal places.)
Equivalent Units
Department
Physical
Prior
Department
Units
Flow of units
Units to be accounted for
Beginning WIP inventory
Units started this period
Total units to account for
Unts accounted for
Compieted and transferred out
From beginning WIP invertory
Prior department
Department T
Started and completed currerty
Units in ending WIP inventory
Prior department
Department T
Total units occounted for
Prior
Department
Department
Total
Flow of costs:
Costs to bo accounted for
Next
![Prior dep
Department T
Total units accounted for
Prior
Department
Department
Total
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 from beginning WIP inventory
Curent costs added to complete beginning WIP inventory
Prior department
Department T
Current costs of units started and completed:
Prior department
Department T
Total costs transferred out
Cost of ending WIP inventory
Prior department
Department T
Total costs accounted for](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17a3837c-98d9-4df5-be63-77cb6b351343%2Fa49cdb0e-626c-43f5-9c22-4f22be952871%2F7p8s53r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Prior dep
Department T
Total units accounted for
Prior
Department
Department
Total
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 from beginning WIP inventory
Curent costs added to complete beginning WIP inventory
Prior department
Department T
Current costs of units started and completed:
Prior department
Department T
Total costs transferred out
Cost of ending WIP inventory
Prior department
Department T
Total costs accounted for
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