Need help Cost of Production ReportThe 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, 9,600 units, 80% completed$141,696**Direct materials (9,600 x $10.6)$101,760Conversion (9,600 x 80% x $5.2)39,936$141,696Materials added during January from Weaving Department, 148,000 units$1,591,000Direct labor for January330,641Factory overhead for January404,116Goods finished during January (indludes goods in process, January 1), 149,800 unitsWork in process, January 31, 7,800 units, 25% completed<>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.Karachi Carpet CompanyCost of Production Report-Cutting DepartmentFor the Month Ended January 31Unit InformationUnits charged to production:Inventory in process, JanuarY 1Received from Weaving DepartmentTotal units accounted for by the Cutting DepartmentUnits to be assigned costs:Equivalent UnitsWholeDirectUnitsMaterialsСоnversionInventory in process, January 1Started and completed in JanuaryTransferred to finished goods in JanuaryInventory in process, January 31Total units to be assigned costCost InformationCost per equivalent unit:DirectMaterialsConversionTotal costs for January in Cutting DepartmentTotal equivalent unitsCost per equivalent unitCosts assigned to production:DirectTotalMaterialsConversionInventory in process, January 1Costs incurred in January eBookUnit InformationUnits charged to production:Inventory in process, January 1Received from Weaving DepartmentTotal units accounted for by the Cutting DepartmentUnits to be assigned costs:Equivalent UnitsWholeDirectUnitsMaterialsConversionInventory in process, January 1Started and completed in JanuaryTransferred to finished goods in JanuaryInventory in process, January 31<>Total units to be assigned costCost InformationCost per equivalent unit:DirectMaterialsConversionTotal costs for January in Cutting DepartmentTotal equivalent unitsCost per equivalent unitCosts assigned to production:DirectTotalMaterialsConversionInventory in process, January 1Costs incurred in JanuaryTotal costs accounted for by the Cutting DepartmentCosts allocated to completed and partially completed units:Inventory in process, January 1 balanceTo complete inventory in process, January 1Cost of completed January 1 work in processStarted and completed in JanuaryTransferred to finished goods in JanuaryInventory in process, January 31Total costs assigned by the Cutting Departmentb. 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 DecreaseAmountChange in direct materials cost per equivalent unitChange in conversion cost per equivalent unit

Beginning Work in process completion percentage -materials = 100% - 100% = 0% Beginning Work in…

Cost of Production Report The Cuting Department of Karachi Carpet Compamy provides the following data for January. Assume that all materials are added at the beginning of the process Work in process, January 1. 9.600 units, 80% completed $141.696 "Direct materials (9.600 x $10.6) $101.760 Conversion (9.600 x 80% S5.2) 39,936 $141.696 Materials added during January from Weaving Department. 148.000 units S1.991.000 Direct labor for January 330.641 Factory overhead for January Goods finished during January (includes geods in process, January 1) 149,800 units 404,116 Work in process, January 31, 7.800 units, 25% completed a. Prepare a cost of production report for the Cutting Department. an amount is zero or a blank, enter in "o. For the cost per equivalent unit computations, reurd your ansers to twe decimal places Karachi Carpet Company Cost of Production Report-Cutting Department For the Honth Ended January 31 Vinit Jeformation

Cost of Production Report The Cuting Department of Karachi Carpet Compamy provides the following data for January. Assume that all materials are added at the beginning of the process Work in process, January 1. 9.600 units, 80% completed $141.696 "Direct materials (9.600 x $10.6) $101.760 Conversion (9.600 x 80% S5.2) 39,936 $141.696 Materials added during January from Weaving Department. 148.000 units S1.991.000 Direct labor for January 330.641 Factory overhead for January Goods finished during January (includes geods in process, January 1) 149,800 units 404,116 Work in process, January 31, 7.800 units, 25% completed a. Prepare a cost of production report for the Cutting Department. an amount is zero or a blank, enter in "o. For the cost per equivalent unit computations, reurd your ansers to twe decimal places Karachi Carpet Company Cost of Production Report-Cutting Department For the Honth Ended January 31 Vinit Jeformation

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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