Prepare a production cost report for the Assembly Department.

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				$ ____

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Prepare a production cost report for the Assembly Department.

Solution:

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