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In March, Lasso Manufacturing had the following unit production costs: materials $10 and conversion costs $8....

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 20,300 units. As at March 31, 2,050 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process.

Calculate the cost per equivalent unit for Conversion (round your answer to 2 decimals) Please ignore $ sign.

(it is important that this is correct thank you)

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Answer #1
Materials Conversion
Unit transferred out 20300 20300
Work-in-process, March 31
[2050*100%] 2050
[2050*40%] 820
   Equivalent units 22350 21120
Materials Conversion
Beginning work-in-process 0 0
Started into Production 10 8
Total Cost 10 8
Divide: Equivalent Units 22350 21120
   Unit Cost 0.000447 0.0003788

Thus, the cost per equivalent unit for Conversion is $0.0003788

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