The Cutting Department of Lasso Company has the following production and cost data for August. Materials are

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The Cutting Department of Lasso Company has the following production and cost data for August.

The Cutting Department of Lasso Company has the following production

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.
Instructions
(a) Determine the equivalent units of production for (1) materials and (2) conversion costs. 

(b) Compute unit costs and show the assignment of manufacturing costs to units transferred out and in work in process.

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Managerial Accounting Tools for Business Decision Making

ISBN: 978-1119036432

7th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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