Question

Problem 3-4A (Video) (Part Level Submission) Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,286,318 as follows. $78,900 48,500 Work in process, November 1 Materials Conversion costs Materials added Labor Overhead $127,400 1,593,420 226,000 339,498 Production records show that 34,800 units were in beginning work in process 30% complete as to conversion costs, 662,000 units were started into production, and 24,300 units were in ending work in process 40% complete as to conversion costs. Materials are entered at the beginning of each process. (a) x Your answer is incorrect. Try again. 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 Click if you would like to show Work for this question: Open Show Work

Answer 1

A Equivalent unit computation FIFO Method Equivalent Units Workings Material Conversion Cost Material Conversion Cost Units completed From Opening WIP Units introduced and Completed Ending Inventory Equivalent unit of Production Physical units 34,800 6,37,700 24,300 6,96,800 6,37,700 24,300 6,62,000 24,360 6,37,700 9,720 6,71,780 34800 x (100-100)% 637700 x 100% 24300 x 100% 34800 X(100-30)% 637700 x 100% 24300 x 40% Material Conversion Cost $ 15,93,420 $ 5,65,498 6,62,000 6,71,780 $ 2.41 $ 0.84 B Cost per Equivalent unit Current Cost Equivalent units Cost per Equivalent unit 226000+339498 1593420/662000 565498/671780