Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

undefined Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,277,204 as follows. Work in process, November 1

image text in transcribedimage text in transcribedundefined

Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,277,204 as follows. Work in process, November 1 Materials $78,700 Conversion costs 48.900 $127,600 Materials added 1.587,620 Labor 225.100 Overhead 336.884 Production records show that 34,600 units were in beginning work in process 30% complete as to conversion costs, 659,700 units were started into production, and 25,900 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. (Round unit costs to 2 decimal places, eg. 2.25.) Materials Conversion Costs Equivalent Units Cost per unit $ $ eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 10% score reduction after attempt 2 (b) 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 $ eTextbook and Media Prepare a production cost report for the Assembly Department. (Round unit costs to 2 decimal places, eg 2.25 and other answers to decimal places, eg. 125.) RIVERA COMPANY Assembly Department Production Cost Report For the Month Ended November 30, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Workin process. November 1 Started into production Total units Units accounted for Transferred out Work in process November 30 Total units Conversion Costs Costs Materials Unit costs Total Costs S Equivalent units Unit costs s Costs to be accounted for Work in process, November 1 Started into production 4 Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process. November 30 Materials $ S Conversion costs Total costs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How To Make Money In Crypto The Beginners Guide To Bitcoin

Authors: Joyce E Thompson

1st Edition

180438075X, 978-1804380758

More Books

Students also viewed these Accounting questions

Question

Problem: Evaluate the integral: I = 1- 1 dx 9

Answered: 1 week ago

Question

Describe the Indian constitution and political system.

Answered: 1 week ago

Question

Explain in detail the developing and developed economy of India

Answered: 1 week ago

Question

Problem: Evaluate the integral: I = X 52+7 - 1)(x+2) dx

Answered: 1 week ago