Rivera Company has several processing departments. Costs charged to the Assembly Department for… 1 answer below »

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Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,288,076 as follows.

Work in process, November 1
Materials$79,000
Conversion costs48,200$127,200
Materials added1,594,520
Labor225,800
Overhead340,556

Production records show that 34,600 units were in beginning work in process 30% complete as to conversion costs, 662,700 units were started into production, and 24,100 units were in ending work in process 40% complete as to conversion costs. Materials are entered at the beginning of each process.

Determine the equivalent units of production and the unit production costs for the Assembly Department. (Round unit costs to 2 decimal places, e.g. 2.25.)

Materials

Conversion Costs

Equivalent Units

Cost per unit$

$

Determine the assignment of costs to goods transferred out and in process.

Costs accounted for:

Transferred out

$

________

Work in process, November 30

Materials

$

______________

Conversion costs

____________

_____________

Total costs

$

____________

Prepare a production cost report for the Assembly Department. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.)

RIVERA COMPANY
Assembly Department
Production Cost Report
For the Month Ended November 30, 2020

Equivalent Units

Quantities

Physical
Units

Materials

Conversion
Costs

Units to be accounted for

Work in process, November 1

______

Started into production

_____

Total units

_____

Units accounted for

Transferred out

_____

_____

_____

Work in process, November 30

_____

_____

_____

Total units

_____

______

______

Costs

Materials

Conversion
Costs

Total

Unit costs

Total Costs

$

_____

$

____

$

_____

Equivalent units

____

____

Unit costs

$

_____

$

_____

$

_____

Costs to be accounted for

Work in process, November 1

$

_____

Started into production

_____

Total costs

$

_____

Cost Reconciliation Schedule

Costs accounted for

Transferred out

$

_____

Work in process, November 30

Materials

$

____

Conversion costs

_____

____

Total costs

$

____

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