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QUESTION

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 $7

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 costs    $48,200                        $127,200

Materials added                                            $1,594,520

Labor                                                             $ 225,800

Overhead                                                      $ 340,556

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.                                    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 (attached picture of Production Cost Report)
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Prof. Riba
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************************* Units           PhysicalUnits  Materials ConversionCosts         Units to ** ********* for Work ** ******* ******** * ******* **** ********** ***** ************ ********* for *********** *** **** in process November ** ***** ***************************************************************************************************************************** * 40%   Beginning **** ******************** ****** ********************** units Cost *** unit Materials **********  79000 1594520$1673520 697300 $240 Conversion ************************************************************* * $337930)  (b)Costs accounted *** *********** out ******* * ***** **** ** process ******** 30 ********* (24100 * ***** ********** costs (9640 * **** ***** ******************* ************************** ********************

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