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
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 | $ |
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