Determine the equivalent units of production and the unit

Reference no: EM13586501

Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2014 totaled $2,352,610 as follows.

Work in process, November 1
Materials	$79,310
Conversion costs	48,490	$127,800
Materials added		1,591,690
Labor		225,800
Overhead		407,320

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.)

Materials

Conversion Costs

Equivalent Units

696250

681610

Cost per unit

2.40

1.00

Determine the assignment of costs to goods transferred out and in process.

Costs accounted for:
Transferred out		$ 2284290
Work in process, November 30
Materials	$ 58560
Conversion costs	9760	68320
Total costs		$ 2352610

Prepare a production cost report for the Assembly Department.

RIVÈRA COMPANY

Assembly Department

Production Cost Report

For the Month Ended November 30, 2014

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

Reference no: EM13586501

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