The Cutting Department of Lasso Company has the following production and cost data for August Production Costs 1 Started and completed 9,700 units Beginning work in process 50 2 Started 2,400 units that are 40% completed at August 31 Materials 48.400 Labor 13700 Manufacturing overhead 13483 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 Your answer is partially correct. Determine the equivalent units of production for (1) materials and (2) conversion costs The equivalent units of production eTextbook and Media Materials Conversion Costs 12100 4340 Your answer is partially correct. Compute unit costs. (Round unit costs to 2 decimal places, eg 2.25) Materials Unit costs 5 eTextbook and Media Conversion Costs 58 Your answer is incorrect. Show the assignment of manufacturing costs to units transferred out and in work in process Round unit costs to 2 decimal places, e. 2.25 and final answers to O decimal places, 1.225) Assignment of Costs Transferred out Work in process, August 31 Materials Conversion costs. Total costs $ eTextbook and Mais