Question

View Policies Current Attempt In Progress Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2.290,566 as follows. Work in process, November 1 Materials Conversion costs Materials added Labor Overhead $79,500 48,400 $127,900 1,596,420 226,000 340,246 Production records show that 34,900 units were in beginning work in process 30% complete as to conversion costs, 663.400 units were started into production, and 25,600 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, es 2.25.) Materials Conversion Costs Equivalent Units Cost per unit $

Answer 1

Answer is given below

Materials Conversion cost 682,940 $0.90 Total equivalent units of production Cost per unit 698,300 $2.40 $2,219,910 Cost accounted for Transferred out Work in process , November 30 Materials Conversion Total Costs $61,440 $9,216 $70,656 $2,290,566 EUP % EUP Materials Conversion Conversion Beginning WIP Inventory November 1 Units Started this period Total Units Units completed and transferred out work in process November 30 Equivalent units of production Cost per EUP Work in process Beginning Cost added in current period Total cost to account for Equivalent units of production Cost per equivalent unit of production % Physical units Materials 34,900 663,400 698,300 672,700 100% 25,600 100% 698,300 Materials $79,500 $1,596,420 $1,675,920 Costs 698,300 EUP $2.40 672,700 100% 25,600 40% 698,300 Conversion $48,400 $566,246 $614,646 Costs 682,940 EUP $0.90 672,700 10,240 682,940 Total $127,900 $2,162,666 $2,290,566 A $3.30 A/B Costs to be accounted for Work in process November 1 Started into production Total Costs $127,900 $2,162,666 $2,290,566 $2,219,910 Cost reconciliation schedule Cost accounted for Transferred out Work in process, November 30 Materials Conversion Total Costs $61,440 $9,216 $70,656 $2,290,566