Prepare a cost reconciliation schedule including the costs, Ask an Expert

Accounting

In March, Lasso Manufacturing had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Lasso transferred out 22,000 units. As of March 31, 2,000 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process.

A. Compute the total units to be accounted for.

B. Compute the equivalent units of production.

C. Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9430924

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