Question

Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $ 2,262,390 as follows.

Work in process, November 1
Materials		$ 78,500
Conversion costs		48,000		$ 126,500
Materials added				1,576,300
Labor				225,000
Overhead				334,590

Production records show that  34,500 units were in beginning work in process 30% complete as to conversion costs,  655,000 units were started into production, and  24,000 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. (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								$

Attempts: 0 of 7 used

Answer 1

Production cost report :

		Equivalent unit
Quantities	Physical unit	Material	Conversion
Units to be accounted for
Work in process, November 1	34500
Started into production	655000
Total Units	689500
Units accounted for
Transferred out	665500	665500	665500
Work in process, November 30	24000	24000	24000*40% = 9600
Total units	689500	689500	675100
Costs		Material	Conversion	Total
Unit cost
Total cost		1654800	607590	2262390
Equivalent unit		689500	675100
Unit Cost		2.40	0.90	3.30
Costs to be accounted for
Work in process, November 1				126500
Started into production				2135890
Total Costs				2262390
Cost Reconciliation Schedule
Costs accounted for
Transferred out				2196150
Work in process, November 30
Material (24000*2.4)		57600
Conversion (9600*.90)			8640	66240
Total Costs				2262390