The RIA guns are made in the Philippines by Armscor: http://www.armscor.com.ph/ and sold by Twin Pines. As far as I know, this is the same factory that makes the Charles Daly 1911s, as well as their own brand of pistols.
The RIA guns have a decent reputation for "third tier" GI-type 1911s. I'd expect one to function with ball ammo, assuming good magazines, but probably nothing else.
They seem to run about $400-$450 on www.gunsamerica.com.