a. Complete the production cost report using the weighted-average method. Lansing Inc. provides the following information for one of its department's operations for June (no new material is added inDepertment TWIP Lventory-bepartnent Tbeginning iaventory (15,000 unite, 6 complete with respect toDepartent T conte)Tranaferred-ia costa (fron bepartnest )Departaent T converaion eosteCurrent vork (35,000 units atarted)Prior departnent costeDepartent T costadookS116,000Print280,000209,050mencesThe ending inventory has 5,000 units, which are 20 percent complete with respect to Department T costs and 100 percent completefor prior department costs.Required:a. Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)Equivalent UnitsPriorDepartmene DepartmentTPhysical UnitsFlow of unitsUnits to be accounted forBeginning WP inventoryUnits started this periodTotal units to account forUnts accounted forCompieted and trarsfered outUnits in ending invertoryPrior depertmentDepartmentTTotal unts accounted forPriorTotalDepartment TDepartmentFlow of costsCosts to be accounted for Required:a. Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)Equivalent UnitsPriorDepartmentPhysical UniteDepartment TFlow of unitsUnits to be accounted forBeginning WIP InventoryUnits started this periodTotal units to account forUnits accounted forCompleted and transferred outUnits in ending inventoryPrior departmentDepartmentTTotal units accounted forPriorTotalDepartment TDepartmentFlow of costs:Costs to be accounted forCosts in beginning WIP inventoryCument period costsTotal costs to be accounted forCost per equivaient untPrior departmentDepartment TCosts accounted forCosts assgned lo units transferred outCosts of ending WIP inventoryTotal costs accounted for

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Lansing Inc provides the following information for one of ts department's operations for June (no new material is added in Depertment WIP iventery-bepartnent T egiasing iaventory (15,000 unita, cs complete with respect to Departaent T costa) Tranaferred-ia coeta (from bepartnest ) Departent T eonversion eosts Current vork (35,000 units atarted) Prier departnent eoste Departnent T coste 6,000 20,000 209,050 The ending inventory has 5,000 units, which are 20 percent complete with respect to DepartmentT costs and 100 percent complete Mor prior department costs. Required Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places)

Lansing Inc provides the following information for one of ts department's operations for June (no new material is added in Depertment WIP iventery-bepartnent T egiasing iaventory (15,000 unita, cs complete with respect to Departaent T costa) Tranaferred-ia coeta (from bepartnest ) Departent T eonversion eosts Current vork (35,000 units atarted) Prier departnent eoste Departnent T coste 6,000 20,000 209,050 The ending inventory has 5,000 units, which are 20 percent complete with respect to DepartmentT costs and 100 percent complete Mor prior department costs. Required Complete the production cost report using the weighted-average method. (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 4P

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