Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2014 totaled $2,352,610 as follows.
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Work in process, November 1
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Materials
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$79,310
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Conversion costs
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48,490
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$127,800
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Materials added
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1,591,690
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Labor
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225,800
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Overhead
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407,320
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Production records show that 34,950 units were in beginning work in process 30% complete as to conversion costs, 661,300 units were started into production, and 24,400 units were in ending work in process 40% complete as to conversion costs. Materials are entered at the beginning of each process.
Determine the equivalent units of production and the unit production costs for the Assembly Department. (Round unit costs to 2 decimal places, e.g. 2.25.)
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Materials
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Conversion Costs
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Equivalent Units
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696250
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681610
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Cost per unit
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$
2.40
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$
1.00
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Determine the assignment of costs to goods transferred out and in process.
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Costs accounted for:
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Transferred out
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$
2284290
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Work in process, November 30
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Materials
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$
58560
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Conversion costs
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9760
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68320
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Total costs
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$
2352610
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Prepare a production cost report for the Assembly Department.
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RIVÈRA COMPANY
Assembly Department
Production Cost Report
For the Month Ended November 30, 2014
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Equivalent Units
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Quantities
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Physical
Units
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Materials
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Conversion
Costs
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Units to be accounted for
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Work in process, November 1
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Started into production
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Total units
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Units accounted for
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Transferred out
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Work in process, November 30
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Total units
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Costs
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Materials
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Conversion
Costs
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Total
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Unit costs
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Total Costs
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$
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$
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$
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Equivalent units
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Unit costs
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$
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$
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$
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Costs to be accounted for
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Work in process, November 1
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$
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Started into production
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Total costs
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$
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Cost Reconciliation Schedule
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Costs accounted for
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Transferred out
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$
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Work in process, November 30
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Materials
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$
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Conversion costs
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Total costs
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$
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