Lansing, Inc. provides the following information for one of its department's operations for June (no new...
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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 (8,300 units, 20% complete with respect to Departnent T casts) Transferred-in costs (from Department S) Department T conversion costs Current work (19, 100 units started) Prior department costs Department T costs $ 37,100 9,842 91,680 183, 150 The ending inventory has 3,300 units, which are 60 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 Physical Units Prior Department Department Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed and transferred out From beginning WIP inventory Prior department Department T Started and completed currently Units in ending WIP inventory Prior department Department T Total units accounted for Prior Department Total Department Flow of costs: Costs to be accounted for: 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 (8,300 units, 20% complete with respect to Departnent T casts) Transferred-in costs (from Department S) Department T conversion costs Current work (19, 100 units started) Prior department costs Department T costs $ 37,100 9,842 91,680 183, 150 The ending inventory has 3,300 units, which are 60 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 Physical Units Prior Department Department Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed and transferred out From beginning WIP inventory Prior department Department T Started and completed currently Units in ending WIP inventory Prior department Department T Total units accounted for Prior Department Total Department Flow of costs: Costs to be accounted for:
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-1259565403
5th edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
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