Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places. The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 8,200 units, 65% completed $103,894* *Direct materials (8,200 × $10.2) $83,640 Conversion (8,200 × 65% × $3.8) 20,254 $103,894 Materials added during January from Weaving Department, 126,400 units $1,301,920 Direct labor for January 219,708 Factory overhead for January 268,533 Goods finished during January (includes goods in process, January 1), 127,800 units — Work in process, January 31, 6,800 units, 40% completed — Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Number of Units Inventory in process, January 1 fill in the blank Received from Weaving Department fill in the blank Total units accounted for by the Cutting Department fill in the blank Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 fill in the blank fill in the blank fill in the blank Started and completed in January fill in the blank fill in the blank fill in the blank Transferred to finished goods in January fill in the blank fill in the blank fill in the blank Inventory in process, January 31 fill in the blank fill in the blank fill in the blank Total units to be assigned cost fill in the blank fill in the blank fill in the blank Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department $fill in the blank $fill in the blank Total equivalent units fill in the blank fill in the blank Cost per equivalent unit $fill in the blank $fill in the blank Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 $fill in the blank Costs incurred in January fill in the blank Total costs accounted for by the Cutting Department $fill in the blank Costs allocated to completed and partially completed units: Inventory in process, January 1 balance $fill in the blank To complete inventory in process, January 1 $fill in the blank $fill in the blank fill in the blank Cost of completed January 1 work in process $fill in the blank Started and completed in January $fill in the blank fill in the blank fill in the blank Transferred to finished goods in January $fill in the blank Inventory in process, January 31 fill in the blank fill in the blank fill in the blank Total costs assigned by the Cutting Department $fill in the blank b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (December). If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank Change in conversion cost per equivalent unit $fill in the blank

Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places. The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 8,200 units, 65% completed $103,894* *Direct materials (8,200 × $10.2) $83,640 Conversion (8,200 × 65% × $3.8) 20,254 $103,894 Materials added during January from Weaving Department, 126,400 units $1,301,920 Direct labor for January 219,708 Factory overhead for January 268,533 Goods finished during January (includes goods in process, January 1), 127,800 units — Work in process, January 31, 6,800 units, 40% completed — Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Number of Units Inventory in process, January 1 fill in the blank Received from Weaving Department fill in the blank Total units accounted for by the Cutting Department fill in the blank Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 fill in the blank fill in the blank fill in the blank Started and completed in January fill in the blank fill in the blank fill in the blank Transferred to finished goods in January fill in the blank fill in the blank fill in the blank Inventory in process, January 31 fill in the blank fill in the blank fill in the blank Total units to be assigned cost fill in the blank fill in the blank fill in the blank Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department $fill in the blank $fill in the blank Total equivalent units fill in the blank fill in the blank Cost per equivalent unit $fill in the blank $fill in the blank Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 $fill in the blank Costs incurred in January fill in the blank Total costs accounted for by the Cutting Department $fill in the blank Costs allocated to completed and partially completed units: Inventory in process, January 1 balance $fill in the blank To complete inventory in process, January 1 $fill in the blank $fill in the blank fill in the blank Cost of completed January 1 work in process $fill in the blank Started and completed in January $fill in the blank fill in the blank fill in the blank Transferred to finished goods in January $fill in the blank Inventory in process, January 31 fill in the blank fill in the blank fill in the blank Total costs assigned by the Cutting Department $fill in the blank b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (December). If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank Change in conversion cost per equivalent unit $fill in the blank

Name: a. Prepare a cost of production report for the Cutting Department. If
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Description: a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places. The Cutting Department of Karachi Carpet Compa

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 17E: Cost of Production report The Cutting Department of Karachi Carpet Company provides the following...

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a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process.

Work in process, January 1, 8,200 units, 65% completed		$103,894*
*Direct materials (8,200 × $10.2)	$83,640
Conversion (8,200 × 65% × $3.8)	20,254
	$103,894
Materials added during January from Weaving Department, 126,400 units		$1,301,920
Direct labor for January		219,708
Factory overhead for January		268,533
Goods finished during January (includes goods in process, January 1), 127,800 units		—
Work in process, January 31, 6,800 units, 40% completed		—

Cost of Production Report-Cutting Department

For the Month Ended January 31

Unit Information

Units charged to production:	Number of Units
Inventory in process, January 1	fill in the blank
Received from Weaving Department	fill in the blank
Total units accounted for by the Cutting Department	fill in the blank

Units to be assigned costs:	Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, January 1	fill in the blank	fill in the blank	fill in the blank
Started and completed in January	fill in the blank	fill in the blank	fill in the blank
Transferred to finished goods in January	fill in the blank	fill in the blank	fill in the blank
Inventory in process, January 31	fill in the blank	fill in the blank	fill in the blank
Total units to be assigned cost	fill in the blank	fill in the blank	fill in the blank

Cost Information

Cost per equivalent unit:	Direct Materials	Conversion
Total costs for January in Cutting Department	$fill in the blank	$fill in the blank
Total equivalent units	fill in the blank	fill in the blank
Cost per equivalent unit	$fill in the blank	$fill in the blank
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, January 1			$fill in the blank
Costs incurred in January			fill in the blank
Total costs accounted for by the Cutting Department			$fill in the blank
Costs allocated to completed and partially completed units:
Inventory in process, January 1 balance			$fill in the blank
To complete inventory in process, January 1	$fill in the blank	$fill in the blank	fill in the blank
Cost of completed January 1 work in process			$fill in the blank
Started and completed in January	$fill in the blank	fill in the blank	fill in the blank
Transferred to finished goods in January			$fill in the blank
Inventory in process, January 31	fill in the blank	fill in the blank	fill in the blank
Total costs assigned by the Cutting Department			$fill in the blank

b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (December). If required, round your answers to two decimal places.

	Increase or Decrease	Amount
Change in direct materials cost per equivalent unit		$fill in the blank
Change in conversion cost per equivalent unit		$fill in the blank

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