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The Cutting Department of Lasso Company has the following production and cost data for August. Production Costs 1.Started and completed 10,000...
The Cutting Department of Lasso Company has the following production and cost data for August.
Production
Costs
1.Started and completed 10,000 units.Beginning work in process$0
2.Started 2,000 units that are 40% completed at August 31.
Materials 45,000
Labor 13,600
Manufacturing overhead 16,100
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 units.
*(a) Determine the equivalent units of production for (1) materials and (2) conversion costs.
The equivalent units of production:
