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, 12,200 units, 55% completed $111,081* *Direct materials (12,200 × $7.40) $90,280 Conversion (12,200 × 55% × $3.10) 20,801 $111,081 Materials added during January from Weaving Department, 188,000 units $1,419,400 Direct labor for January 253,112 Factory overhead for January 309,358 Goods finished during January (includes goods in process, January 1), 190,200 units — Work in process, January 31, 10,000 units, 40% 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 Company Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 fill in the blank 920f4700803f043_1 Received from Weaving Department fill in the blank 920f4700803f043_2 Total units accounted for by the Cutting Department fill in the blank 920f4700803f043_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 fill in the blank 920f4700803f043_4 fill in the blank 920f4700803f043_5 fill in the blank 920f4700803f043_6 Started and completed in January fill in the blank 920f4700803f043_7 fill in the blank 920f4700803f043_8 fill in the blank 920f4700803f043_9 Transferred to finished goods in January fill in the blank 920f4700803f043_10 fill in the blank 920f4700803f043_11 fill in the blank 920f4700803f043_12 Inventory in process, January 31 fill in the blank 920f4700803f043_13 fill in the blank 920f4700803f043_14 fill in the blank 920f4700803f043_15 Total units to be assigned cost fill in the blank 920f4700803f043_16 fill in the blank 920f4700803f043_17 fill in the blank 920f4700803f043_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department $fill in the blank 920f4700803f043_19 $fill in the blank 920f4700803f043_20 Total equivalent units fill in the blank 920f4700803f043_21 fill in the blank 920f4700803f043_22 Cost per equivalent unit $fill in the blank 920f4700803f043_23 $fill in the blank 920f4700803f043_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 $fill in the blank 920f4700803f043_25 Costs incurred in January fill in the blank 920f4700803f043_26 Total costs accounted for by the Cutting Department $fill in the blank 920f4700803f043_27 Costs allocated to completed and partially completed units: Inventory in process, January 1 balance $fill in the blank 920f4700803f043_28 To complete inventory in process, January 1 $fill in the blank 920f4700803f043_29 $fill in the blank 920f4700803f043_30 fill in the blank 920f4700803f043_31 Cost of completed January 1 work in process $fill in the blank 920f4700803f043_32 Started and completed in January fill in the blank 920f4700803f043_33 fill in the blank 920f4700803f043_34 fill in the blank 920f4700803f043_35 Transferred to finished goods in January $fill in the blank 920f4700803f043_36 Inventory in process, January 31 fill in the blank 920f4700803f043_37 fill in the blank 920f4700803f043_38 fill in the blank 920f4700803f043_39 Total costs assigned by the Cutting Department $fill in the blank 920f4700803f043_40 b. Compute and evaluate the change in the costs 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 b81da8fbf07007d_2 Change in conversion cost per equivalent unit $fill in the blank b81da8fbf07007d_4

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, 12,200 units, 55% completed $111,081* *Direct materials (12,200 × $7.40) $90,280 Conversion (12,200 × 55% × $3.10) 20,801 $111,081 Materials added during January from Weaving Department, 188,000 units $1,419,400 Direct labor for January 253,112 Factory overhead for January 309,358 Goods finished during January (includes goods in process, January 1), 190,200 units — Work in process, January 31, 10,000 units, 40% 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 Company Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 fill in the blank 920f4700803f043_1 Received from Weaving Department fill in the blank 920f4700803f043_2 Total units accounted for by the Cutting Department fill in the blank 920f4700803f043_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 fill in the blank 920f4700803f043_4 fill in the blank 920f4700803f043_5 fill in the blank 920f4700803f043_6 Started and completed in January fill in the blank 920f4700803f043_7 fill in the blank 920f4700803f043_8 fill in the blank 920f4700803f043_9 Transferred to finished goods in January fill in the blank 920f4700803f043_10 fill in the blank 920f4700803f043_11 fill in the blank 920f4700803f043_12 Inventory in process, January 31 fill in the blank 920f4700803f043_13 fill in the blank 920f4700803f043_14 fill in the blank 920f4700803f043_15 Total units to be assigned cost fill in the blank 920f4700803f043_16 fill in the blank 920f4700803f043_17 fill in the blank 920f4700803f043_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department $fill in the blank 920f4700803f043_19 $fill in the blank 920f4700803f043_20 Total equivalent units fill in the blank 920f4700803f043_21 fill in the blank 920f4700803f043_22 Cost per equivalent unit $fill in the blank 920f4700803f043_23 $fill in the blank 920f4700803f043_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 $fill in the blank 920f4700803f043_25 Costs incurred in January fill in the blank 920f4700803f043_26 Total costs accounted for by the Cutting Department $fill in the blank 920f4700803f043_27 Costs allocated to completed and partially completed units: Inventory in process, January 1 balance $fill in the blank 920f4700803f043_28 To complete inventory in process, January 1 $fill in the blank 920f4700803f043_29 $fill in the blank 920f4700803f043_30 fill in the blank 920f4700803f043_31 Cost of completed January 1 work in process $fill in the blank 920f4700803f043_32 Started and completed in January fill in the blank 920f4700803f043_33 fill in the blank 920f4700803f043_34 fill in the blank 920f4700803f043_35 Transferred to finished goods in January $fill in the blank 920f4700803f043_36 Inventory in process, January 31 fill in the blank 920f4700803f043_37 fill in the blank 920f4700803f043_38 fill in the blank 920f4700803f043_39 Total costs assigned by the Cutting Department $fill in the blank 920f4700803f043_40 b. Compute and evaluate the change in the costs 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 b81da8fbf07007d_2 Change in conversion cost per equivalent unit $fill in the blank b81da8fbf07007d_4

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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Cost of Production Report

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, 12,200 units, 55% completed		$111,081*
*Direct materials (12,200 × $7.40)	$90,280
Conversion (12,200 × 55% × $3.10)	20,801
	$111,081
Materials added during January from Weaving Department, 188,000 units		$1,419,400
Direct labor for January		253,112
Factory overhead for January		309,358
Goods finished during January (includes goods in process, January 1), 190,200 units		—
Work in process, January 31, 10,000 units, 40% 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 Company
Cost of Production Report-Cutting Department
For the Month Ended January 31
Unit Information
Units charged to production:
Inventory in process, January 1	fill in the blank 920f4700803f043_1
Received from Weaving Department	fill in the blank 920f4700803f043_2
Total units accounted for by the Cutting Department	fill in the blank 920f4700803f043_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, January 1	fill in the blank 920f4700803f043_4	fill in the blank 920f4700803f043_5	fill in the blank 920f4700803f043_6
Started and completed in January	fill in the blank 920f4700803f043_7	fill in the blank 920f4700803f043_8	fill in the blank 920f4700803f043_9
Transferred to finished goods in January	fill in the blank 920f4700803f043_10	fill in the blank 920f4700803f043_11	fill in the blank 920f4700803f043_12
Inventory in process, January 31	fill in the blank 920f4700803f043_13	fill in the blank 920f4700803f043_14	fill in the blank 920f4700803f043_15
Total units to be assigned cost	fill in the blank 920f4700803f043_16	fill in the blank 920f4700803f043_17	fill in the blank 920f4700803f043_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for January in Cutting Department	$fill in the blank 920f4700803f043_19	$fill in the blank 920f4700803f043_20
Total equivalent units	fill in the blank 920f4700803f043_21	fill in the blank 920f4700803f043_22
Cost per equivalent unit	$fill in the blank 920f4700803f043_23	$fill in the blank 920f4700803f043_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, January 1			$fill in the blank 920f4700803f043_25
Costs incurred in January			fill in the blank 920f4700803f043_26
Total costs accounted for by the Cutting Department			$fill in the blank 920f4700803f043_27
Costs allocated to completed and partially completed units:
Inventory in process, January 1 balance			$fill in the blank 920f4700803f043_28
To complete inventory in process, January 1	$fill in the blank 920f4700803f043_29	$fill in the blank 920f4700803f043_30	fill in the blank 920f4700803f043_31
Cost of completed January 1 work in process			$fill in the blank 920f4700803f043_32
Started and completed in January	fill in the blank 920f4700803f043_33	fill in the blank 920f4700803f043_34	fill in the blank 920f4700803f043_35
Transferred to finished goods in January			$fill in the blank 920f4700803f043_36
Inventory in process, January 31	fill in the blank 920f4700803f043_37	fill in the blank 920f4700803f043_38	fill in the blank 920f4700803f043_39
Total costs assigned by the Cutting Department			$fill in the blank 920f4700803f043_40

b. Compute and evaluate the change in the costs 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 b81da8fbf07007d_2
Change in conversion cost per equivalent unit		$fill in the blank b81da8fbf07007d_4

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