Value-stream reporting with inventory decrease shorts manufacturing, inc., has implemented lean manufacturing in its kansas city plant as a pilot program. one of its value streams produces a family of small electric tools. the value-stream team managers were quite excited about the results, as some of their efforts to eliminate waste were proving to be effective. during the most recent three weeks, the following data pertaining to the electric tool value stream were collected: week l: demand = 110 units @ $55 beginning inventory = 5 units @ $20 ($5 materials and $15 conversion) production = 110 units using $400 of materials and $1,350 of conversion cost week 2: demand = 120 units @ $55 beginning inventory = 5 units @ $20 ($5 materials and $15 conversion) production = 110 units using $400 of materials and $1,350 of conversion cost week 3: demand = 110 units @ $55 beginning inventory = 0 production = 120 units using $500 of materials and $1,600 of conversion cost

calculate the average value-stream product cost for each week. if required, round your answers to the nearest cent. week week week

prepare a value-stream income statement for each week. assume that any increase in inventory is valued at average cost. if an amount is zero, enter "0".

week 1 week 2 week 3

sales
materials
conversion cost
valuee-stream profit
change in inventory
gross profit