Question

In: Accounting

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all...

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, 9,000 units, 75% completed $92,925*
    *Direct materials (9,000 × $7.40) $66,600
    Conversion (9,000 × 75% × $3.90) 26,325
$92,925
Materials added during January from Weaving Department, 138,800 units $1,041,000
Direct labor for January 245,898
Factory overhead for January 300,542
Goods finished during January (includes goods in process, January 1), 140,400 units
Work in process, January 31, 7,400 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
Received from Weaving Department
Total units accounted for by the Cutting Department
Units to be assigned costs:
Equivalent Units
Whole Units Direct Materials Conversion
Inventory in process, January 1
Started and completed in January
Transferred to finished goods in January
Inventory in process, January 31
Total units to be assigned cost
Cost Information
Cost per equivalent unit:
Direct Materials Conversion
Total costs for January in Cutting Department $ $
Total equivalent units
Cost per equivalent unit $ $
Costs assigned to production:
Direct Materials Conversion Total
Inventory in process, January 1 $
Costs incurred in January
Total costs accounted for by the Cutting Department $
Costs allocated to completed and partially completed units:
Inventory in process, January 1 balance $
To complete inventory in process, January 1 $ $
Cost of completed January 1 work in process $
Started and completed in January
Transferred to finished goods in January $
Inventory in process, January 31
Total costs assigned by the Cutting Department $

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 $
Change in conversion cost per equivalent unit

Solutions

Expert Solution


Related Solutions

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all...
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, 13,000 units, 80% completed $151,840*     *Direct materials (13,000 × $7.6) $98,800     Conversion (13,000 × 80% × $5.1) 53,040 $151,840 Materials added during January from Weaving Department, 200,400 units $1,553,100 Direct labor for January 456,417 Factory overhead for January 557,843 Goods finished during January (includes goods in process, January 1), 202,800...
The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all...
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, 9,000 units, 60% completed $87,480*     *Direct materials (9,000 × $7.2) $64,800     Conversion (9,000 × 60% × $4.2) 22,680 $87,480 Materials added during January from Weaving Department, 138,800 units $1,020,180 Direct labor for January 267,669 Factory overhead for January 327,150 Goods finished during January (includes goods in process, January 1), 140,400...
The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all...
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, 10,200 units, 60% completed $118,524*     *Direct materials (10,200 × $9.4) $95,880     Conversion (10,200 × 60% × $3.7) 22,644 $118,524 Materials added during January from Weaving Department, 157,200 units $1,485,540 Direct labor for January 264,298 Factory overhead for January 323,030 Goods finished during January (includes goods in process, January 1), 159,000...
The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all...
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, 15,000 units, 80% completed $171,600*     *Direct materials (15,000 × $8) $120,000     Conversion (15,000 × 80% × $4.3) 51,600 $171,600 Materials added during January from Weaving Department, 231,200 units $1,861,160 Direct labor for January 429,748 Factory overhead for January 525,248 Goods finished during January (includes goods in process, January 1), 233,800...
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for...
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, 7,600 units, 80% completed $82,688*     *Direct materials (7,600 × $8.00)$60,800     Conversion (7,600 × 80% × $3.60)21,888 $82,688 Materials added during January from Weaving Department, 117,200 units $949,320 Direct labor for January 181,613 Factory overhead for January 221,972 Goods finished during January (includes goods in process, January...
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for...
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, 1,400 units, 75% completed $ 22,960* *Direct materials (1,400 X $12.65) $17,710 Conversion (1,400 X 75% X $5.00) 5,250 $22,960 Materials added during January from Weaving Department, 58,000 units $742,400 Direct labor for January 134,550 Factory overhead for January 151,611 Goods finished during January (includes goods...
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for...
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, 8,400 units, 75% completed $103,740*     *Direct materials (8,400 × $9.20) $77,280     Conversion (8,400 × 75% × $4.20) 26,460 $103,740 Materials added during January from Weaving Department, 129,200 units $1,208,020 Direct labor for January 244,197 Factory overhead for January 298,463 Goods finished during January (includes goods in...
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for...
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, 14,600 units, 80% completed $208,488*     *Direct materials (14,600 × $10.2) $148,920     Conversion (14,600 × 80% × $5.1) 59,568 $208,488 Materials added during January from Weaving Department, 224,800 units $2,315,440 Direct labor for January 511,805 Factory overhead for January 625,539 Goods finished during January (includes goods in...
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for...
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, 8,400 units, 75% completed $102,060*     *Direct materials (8,400 × $8.4) $70,560     Conversion (8,400 × 75% × $5) 31,500 $102,060 Materials added during January from Weaving Department, 129,200 units $1,098,200 Direct labor for January 290,409 Factory overhead for January 354,945 Goods finished during January (includes goods in...
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for...
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, 70% completed $137,006*     *Direct materials (12,200 × $7.8) $95,160     Conversion (12,200 × 70% × $4.9) 41,846 $137,006 Materials added during January from Weaving Department, 188,000 units $1,485,200 Direct labor for January 415,485 Factory overhead for January 507,815 Goods finished during January (includes goods in...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT