Rivera Company has several processing departments. Costs chargedto the Assembly Department for November 2020...

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Accounting

Rivera Company has several processing departments. Costs chargedto the Assembly Department for November 2020 totaled $ 2,262,390 asfollows.
Work in process, November 1
   Materials $ 78,500
   Conversioncosts 48,000 $ 126,500
Materials added 1,576,300
Labor 225,000
Overhead 334,590

Production records show that  34,500 units were inbeginning work in process 30% complete as to conversioncosts,  655,000 units were started into production,and  24,000 units were in ending work in process 40%complete as to conversion costs. Materials are entered at thebeginning of each process.
(a)
Correct answer iconYour answer is correct.
Determine the equivalent units of production and the unitproduction costs for the Assembly Department. (Roundunit costs to 2 decimal places, e.g. 2.25.)
Materials
Conversion Costs
Equivalent Units
Cost per unit
$
$
Attempts: 1 of 7 used
(b)
Determine the assignment of costs to goods transferred out andin process.
Costs accounted for:
   Transferred out
$
   Work in process, November 30
      Materials
$
      Conversion costs
         Totalcosts
$

Answer & Explanation Solved by verified expert

4.4 Ratings (686 Votes)

All working forms part of the answer Requirement a Units Reconciliation Units to account for Beginning WIP 34500 Units started this period 655000 Total Units to account for 68950000 Total Units accounted for Completed Transferred out 665500 Ending WIP 24000 Total Units accounted for 68950000 See Answer

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Transcribed Image Text

In: AccountingRivera Company has several processing departments. Costs chargedto the Assembly Department for November 2020 totaled...Rivera Company has several processing departments. Costs chargedto the Assembly Department for November 2020 totaled $ 2,262,390 asfollows.Work in process, November 1 Materials$ 78,500 Conversioncosts48,000$ 126,500Materials added1,576,300Labor225,000Overhead334,590Production records show that 34,500 units were inbeginning work in process 30% complete as to conversioncosts, 655,000 units were started into production,and 24,000 units were in ending work in process 40%complete as to conversion costs. Materials are entered at thebeginning of each process.(a)Correct answer iconYour answer is correct.Determine the equivalent units of production and the unitproduction costs for the Assembly Department. (Roundunit costs to 2 decimal places, e.g. 2.25.)MaterialsConversion CostsEquivalent UnitsCost per unit$$Attempts: 1 of 7 used(b)Determine the assignment of costs to goods transferred out andin process.Costs accounted for: Transferred out$ Work in process, November 30 Materials$ Conversion costs Totalcosts$

Work in process, November 1
Materials	$ 78,500
Conversioncosts	48,000	$ 126,500
Materials added		1,576,300
Labor		225,000
Overhead		334,590

	Materials	Conversion Costs
Equivalent Units
Cost per unit	$	$

Costs accounted for:
Transferred out		$
Work in process, November 30
Materials	$
Conversion costs
Totalcosts		$