The cutting department of Lasso Company has the following production & cost data for the month of August:Production1. Started & completed 10,000 units2. Started 2,000 units that are 40% completed Materialat Aug 31CostsBeginning work in processLabourManufacturing Overheads$045,00013,60016,100Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Lasso Company uses weighted average method to computeequivalent units.Required:a. Determine the equivalent units of production for i) materials and ii) conversion costsb. Compute the unit costs and show the assignment of manufacturing costs to units transferred out and in work in process.

Name: The cutting department of Lasso Company has the following production
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Description: The cutting department of Lasso Company has the following production & cost data for the month of August:Production1. Started & completed 10,000 units2. Started 2,000 units that are 40% completed Materialat Aug 31CostsBeginning work in processLabour

Equivalent units refer to quantity of incomplete units manufactured by the company that is expressed…

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The cutting department of Lasso Company has the following production & cost data for the month of August: Production 1. Started & completed 10,000 units 2. Started 2,000 units that are 40% completed Material at Aug 31 Costs Beginning work in process Labour Manufacturing Overheads $0 45,000 13,600 16,100

The cutting department of Lasso Company has the following production & cost data for the month of August: Production 1. Started & completed 10,000 units 2. Started 2,000 units that are 40% completed Material at Aug 31 Costs Beginning work in process Labour Manufacturing Overheads $0 45,000 13,600 16,100

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 5E: The Converting Department of Worley Company had 2,400 units in work in process at the beginning of...

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