Question

LI Current Attempt in Progress Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,282,028 as follows. Work in process, November 1 Materials Conversion costs Materials added Labor Overhead $79,300 48.900 $128,200 1.589,900 225.000 338.928 Production records show that 34,700 units were in beginning work in process 30% complete as to conversion costs, 660,800 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.

Answer 1

Under Weighted Average

.	Units	Complete % respect to material	Material Equivalent units	Complete % respect to Conversion	Conversion Equivalent units
Transferred out	671200	100%	671200	100%	671200
Ending WIP	24300	100%	24300	40%	9720
Total	695500	EUP	695500	Total	680920

Cost per Equivalent units of production

.	Material	Conversion cost
Total cost (A)	79300 + 1589900 =1669200	48900 +225000+ 338928 =612828
Equivalent units of production (B)	695500	680920
Cost per Equivalent units of production (A/B)	$2.4	$0.9

Assignments of costs to goods transferred out and in process

Transferred out (2.4*671200)+(0.9*671200)		$2214960
Work in process, Nov 30
Materials (2.4* 24300)	$58320
Conversion costs (0.9* 9720)	$8748	$67068
Total costs		$2282028

Production cost report for assembly department.

Rivera company

assembly department

Production cost report

For the month Ended Nov 30, 2020

Quantities	Physical units	Materials	Conversion costs
Units to be accounted for
Work in process Nov 1	34700
Started into production	660800
Total units	695500
Units accounted for
Transferred out	671200	671200	671200
Work in process Nov 30	24300	24300	9720
Total units	695500	695500	680920

Costs	Materials	Conversion costs	Total
Unit costs
Total costs	1669200	612828	$2282028
Equivalent units	695500	680920
Unit costs	2.4	0.9	3.3
Costs to be accounted for
Work in process Nov 1			128200
Started into production			1589900+225000+ 338928 =2153828
Total costs			$2282028

Cost reconciliation schedule

Cost accounted for	.	.
Transferred out (2.4*671200)+(0.9*671200)		$2214960
Work in process, Nov 30
Materials (2.4* 24300)	$58320
Conversion costs (0.9* 9720)	$8748	$67068
Total costs		$2282028