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, 14,400 units, 80% completed $178,560* *Direct materials (14,400 × $8.40) $120,960 Conversion (14,400 × 80% × $5.00) 57,600 $178,560 Materials added during January from Weaving Department, 221,600 units $1,894,680 Direct labor for January 478,066 Factory overhead for January 584,303 Goods finished during January (includes goods in process, January 1), 224,200 units — Work in process, January 31, 11,800 units, 35% 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 ebea14f6a009fa1_1 Received from Weaving Department fill in the blank ebea14f6a009fa1_2 Total units accounted for by the Cutting Department fill in the blank ebea14f6a009fa1_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 fill in the blank ebea14f6a009fa1_4 fill in the blank ebea14f6a009fa1_5 fill in the blank ebea14f6a009fa1_6 Started and completed in January fill in the blank ebea14f6a009fa1_7 fill in the blank ebea14f6a009fa1_8 fill in the blank ebea14f6a009fa1_9 Transferred to finished goods in January fill in the blank ebea14f6a009fa1_10 fill in the blank ebea14f6a009fa1_11 fill in the blank ebea14f6a009fa1_12 Inventory in process, January 31 fill in the blank ebea14f6a009fa1_13 fill in the blank ebea14f6a009fa1_14 fill in the blank ebea14f6a009fa1_15 Total units to be assigned cost fill in the blank ebea14f6a009fa1_16 fill in the blank ebea14f6a009fa1_17 fill in the blank ebea14f6a009fa1_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department $fill in the blank ebea14f6a009fa1_19 $fill in the blank ebea14f6a009fa1_20 Total equivalent units fill in the blank ebea14f6a009fa1_21 fill in the blank ebea14f6a009fa1_22 Cost per equivalent unit $fill in the blank ebea14f6a009fa1_23 $fill in the blank ebea14f6a009fa1_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 $fill in the blank ebea14f6a009fa1_25 Costs incurred in January fill in the blank ebea14f6a009fa1_26 Total costs accounted for by the Cutting Department $fill in the blank ebea14f6a009fa1_27 Costs allocated to completed and partially completed units: Inventory in process, January 1 balance $fill in the blank ebea14f6a009fa1_28 To complete inventory in process, January 1 $fill in the blank ebea14f6a009fa1_29 $fill in the blank ebea14f6a009fa1_30 fill in the blank ebea14f6a009fa1_31 Cost of completed January 1 work in process $fill in the blank ebea14f6a009fa1_32 Started and completed in January fill in the blank ebea14f6a009fa1_33 fill in the blank ebea14f6a009fa1_34 fill in the blank ebea14f6a009fa1_35 Transferred to finished goods in January $fill in the blank ebea14f6a009fa1_36 Inventory in process, January 31 fill in the blank ebea14f6a009fa1_37 fill in the blank ebea14f6a009fa1_38 fill in the blank ebea14f6a009fa1_39 Total costs assigned by the Cutting Department $fill in the blank ebea14f6a009fa1_40

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, 14,400 units, 80% completed $178,560* *Direct materials (14,400 × $8.40) $120,960 Conversion (14,400 × 80% × $5.00) 57,600 $178,560 Materials added during January from Weaving Department, 221,600 units $1,894,680 Direct labor for January 478,066 Factory overhead for January 584,303 Goods finished during January (includes goods in process, January 1), 224,200 units — Work in process, January 31, 11,800 units, 35% 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 ebea14f6a009fa1_1 Received from Weaving Department fill in the blank ebea14f6a009fa1_2 Total units accounted for by the Cutting Department fill in the blank ebea14f6a009fa1_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 fill in the blank ebea14f6a009fa1_4 fill in the blank ebea14f6a009fa1_5 fill in the blank ebea14f6a009fa1_6 Started and completed in January fill in the blank ebea14f6a009fa1_7 fill in the blank ebea14f6a009fa1_8 fill in the blank ebea14f6a009fa1_9 Transferred to finished goods in January fill in the blank ebea14f6a009fa1_10 fill in the blank ebea14f6a009fa1_11 fill in the blank ebea14f6a009fa1_12 Inventory in process, January 31 fill in the blank ebea14f6a009fa1_13 fill in the blank ebea14f6a009fa1_14 fill in the blank ebea14f6a009fa1_15 Total units to be assigned cost fill in the blank ebea14f6a009fa1_16 fill in the blank ebea14f6a009fa1_17 fill in the blank ebea14f6a009fa1_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department $fill in the blank ebea14f6a009fa1_19 $fill in the blank ebea14f6a009fa1_20 Total equivalent units fill in the blank ebea14f6a009fa1_21 fill in the blank ebea14f6a009fa1_22 Cost per equivalent unit $fill in the blank ebea14f6a009fa1_23 $fill in the blank ebea14f6a009fa1_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 $fill in the blank ebea14f6a009fa1_25 Costs incurred in January fill in the blank ebea14f6a009fa1_26 Total costs accounted for by the Cutting Department $fill in the blank ebea14f6a009fa1_27 Costs allocated to completed and partially completed units: Inventory in process, January 1 balance $fill in the blank ebea14f6a009fa1_28 To complete inventory in process, January 1 $fill in the blank ebea14f6a009fa1_29 $fill in the blank ebea14f6a009fa1_30 fill in the blank ebea14f6a009fa1_31 Cost of completed January 1 work in process $fill in the blank ebea14f6a009fa1_32 Started and completed in January fill in the blank ebea14f6a009fa1_33 fill in the blank ebea14f6a009fa1_34 fill in the blank ebea14f6a009fa1_35 Transferred to finished goods in January $fill in the blank ebea14f6a009fa1_36 Inventory in process, January 31 fill in the blank ebea14f6a009fa1_37 fill in the blank ebea14f6a009fa1_38 fill in the blank ebea14f6a009fa1_39 Total costs assigned by the Cutting Department $fill in the blank ebea14f6a009fa1_40

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, 14,400 units, 80% completed		$178,560*
*Direct materials (14,400 × $8.40)	$120,960
Conversion (14,400 × 80% × $5.00)	57,600
	$178,560
Materials added during January from Weaving Department, 221,600 units		$1,894,680
Direct labor for January		478,066
Factory overhead for January		584,303
Goods finished during January (includes goods in process, January 1), 224,200 units		—
Work in process, January 31, 11,800 units, 35% 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 ebea14f6a009fa1_1
Received from Weaving Department	fill in the blank ebea14f6a009fa1_2
Total units accounted for by the Cutting Department	fill in the blank ebea14f6a009fa1_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, January 1	fill in the blank ebea14f6a009fa1_4	fill in the blank ebea14f6a009fa1_5	fill in the blank ebea14f6a009fa1_6
Started and completed in January	fill in the blank ebea14f6a009fa1_7	fill in the blank ebea14f6a009fa1_8	fill in the blank ebea14f6a009fa1_9
Transferred to finished goods in January	fill in the blank ebea14f6a009fa1_10	fill in the blank ebea14f6a009fa1_11	fill in the blank ebea14f6a009fa1_12
Inventory in process, January 31	fill in the blank ebea14f6a009fa1_13	fill in the blank ebea14f6a009fa1_14	fill in the blank ebea14f6a009fa1_15
Total units to be assigned cost	fill in the blank ebea14f6a009fa1_16	fill in the blank ebea14f6a009fa1_17	fill in the blank ebea14f6a009fa1_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for January in Cutting Department	$fill in the blank ebea14f6a009fa1_19	$fill in the blank ebea14f6a009fa1_20
Total equivalent units	fill in the blank ebea14f6a009fa1_21	fill in the blank ebea14f6a009fa1_22
Cost per equivalent unit	$fill in the blank ebea14f6a009fa1_23	$fill in the blank ebea14f6a009fa1_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, January 1			$fill in the blank ebea14f6a009fa1_25
Costs incurred in January			fill in the blank ebea14f6a009fa1_26
Total costs accounted for by the Cutting Department			$fill in the blank ebea14f6a009fa1_27
Costs allocated to completed and partially completed units:
Inventory in process, January 1 balance			$fill in the blank ebea14f6a009fa1_28
To complete inventory in process, January 1	$fill in the blank ebea14f6a009fa1_29	$fill in the blank ebea14f6a009fa1_30	fill in the blank ebea14f6a009fa1_31
Cost of completed January 1 work in process			$fill in the blank ebea14f6a009fa1_32
Started and completed in January	fill in the blank ebea14f6a009fa1_33	fill in the blank ebea14f6a009fa1_34	fill in the blank ebea14f6a009fa1_35
Transferred to finished goods in January			$fill in the blank ebea14f6a009fa1_36
Inventory in process, January 31	fill in the blank ebea14f6a009fa1_37	fill in the blank ebea14f6a009fa1_38	fill in the blank ebea14f6a009fa1_39
Total costs assigned by the Cutting Department			$fill in the blank ebea14f6a009fa1_40

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