Rivera Company has several processing departments. Costs charged to the Assembly
ID: 2335548 • Letter: R
Question
Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $ 2,262,390 as follows.
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
Work in process, November 1 Materials $ 78,500 Conversion costs 48,000 $ 126,500 Materials added 1,576,300 Labor 225,000 Overhead 334,590Explanation / Answer
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 2262390Related Questions
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