Lansing, Inc. provides the following information for one of its department's operations for June (no...
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Accounting
Lansing, Inc. provides the following information for one of its department's operations for June (no new material is added in Department T).
WIP inventoryDepartment TBeginning inventory (9,100 units, 20% complete with respect to Department T costs)Transferred-in costs (from Department S)$47,980Department T conversion costs12,654Current work (20,700 units started)Prior department costs115,920Department T costs223,890
The ending inventory has 4,100 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.)
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