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
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 | $ |
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