Question

Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2017 totaled $ 2,295,954 as follows.

Work in process, November 1
Materials		$ 79,200
Conversion costs		48,100		$ 127,300
Materials added				1,604,394
Labor				225,800
Overhead				338,460

Production records show that  35,500 units were in beginning work in process 30% complete as to conversion costs,  660,200 units were started into production, and  25,500 units were in ending work in process 40% complete as to conversion costs. Materials are entered at the beginning of each process.

Prepare a production cost report for the Assembly Department.

RIVERA COMPANY Assembly Department Production Cost Report For the Month Ended November 30, 2017
				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								$

Answer 1

Solution:

RIVERA COMPANY
Assembly Department
Production Cost Report
For the Month Ended November 30, 2017
		Equivalent Units
Quantities	Physical	Materials	Conversion
Units to be accounted for
Work in process, November 1	35500
Started into production	660200
Total units	695700
Units accounted for
Transferred out (695700-25500)	670200	670200	670200
Work in process, November 30	25500	25500	10200
Total units	695700	695700	680400
			Conversion
Costs		Materials costs	Conversion Costs	Total
Unit costs:
Total Costs		$16,83,594.00	$6,12,360.00
Equivalent units		695700	680400
Unit costs		2.42	0.90
Costs to be accounted for
Work in process, November 1		$79,200.00	$48,100.00	$1,27,300.00
Started into production		$16,04,394.00	$5,64,260.00	$21,68,654.00
Total costs		$16,83,594.00	$6,12,360.00	$22,95,954.00
Cost Reconciliation Schedule
Costs accounted for
Transferred out		$16,21,884.00	$6,03,180.00	$22,25,064.00
Work in process, November 30
Materials (25500*$2.42)		$61,710.00		$61,710.00
Conversion costs (10200*$0.90)			$9,180.00	$9,180.00
Total costs		$16,83,594.00	$6,12,360.00	$22,95,954.00