Exercise 16-17 (Part Level Submission) The Cutting Department of Lasso Company h

Question

Exercise 16-17 (Part Level Submission) The Cutting Department of Lasso Company has the following production and cost data for August. Costs Started and completed 10,000 units. Started 2,000 units that are 40% completed at August 31. 1. Beginning work in process Materials Labor Manufacturing overhead 50 45,000 13,600 16,100 2. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Lasso Company uses the FIFO method to compute equivalent u ? (a) Your answer is correct. Determine the equivalent units of production for (1) materials and (2) conversion costs. Materials Conversion Costs The equivalent units of production 12000 10800 SHOW SOLUTION SHOW ANSWER LINK TO TEXTLINK TO TEXT

Explanation / Answer

material costs=45000
converison costs=13600+16100=29700
unit costs:
materials=45000/12000=3.75
conversion costs=29700/10800=2.75

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