Exercise 8-42 (Algo) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6)

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 ((8,100 units, 20% complete with respect to Department T costs)
Transferred-in costs (from Department S)	$	34,580
Department T conversion costs		7,974
Current work (18,700 units started)
Prior department costs		86,020
Department T costs		155,610

The ending inventory has 3,100 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 Flow of units: Units to be accounted for Beginning WP 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 00 Total Prior Department Department S OS Flow of costs: Costs to be accounted for Costs in beginning WP inventory Current period costs Total costs to be accounted for Cost per equivalent unit Prior department Department Costs accounted for Costs assigned to units transferred out Costs of ending WP inventory Total costs accounted for T L 5 05 0 5 0