Prepare a production cost report for the Assembly Department.

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December 22, 2020
How may an individual client or family client system be supported or not supported by your own identity.
December 22, 2020
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. (Round unit costs to 2 decimal places, e.g. 2.25.)

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. (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 $

____