cost of production report

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, 7,200 units, 70% completed $102,168 *Direct materials (7.200 x $10.2) $73,440 Conversion 7.200 X 70% X $5.7) 28,728 $102,168 Materials added during January from Weaving Department, 110,000 units $1,141,240 Direct labor for January 276,620 Factory overhead for January 338,092 Goods finished during January (includes goods in process, January 1), 112,200 units Work in process, January 31,5,800 unts, 45% completed a. Prepare a cost of production report for the Outting Department. If an amount is zero or a blank, enter in "o". For the cost per equivalent unit computations, round your answers to Karachi Carpet Company Cost of Production Report Cutting Department For the Month Ended January 31 7.200 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: 110.000 110,000 Who Units 7.300 Equivalent Unte Direct Conversion Materiale . Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Invertory in process, January 31 Total units to be assigned cost Cost Information Check My Work 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 urvits Cost per equivalent unit Costs assigned to production: Direct Materials Total Conversion 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 inwentory 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 cost per equivalent unit for direct materals and conversion from the previous month (December). If required, round your answers Increase or Decrease Amount Change in direct materials cost per equivalent unit Change in corwersion cost per equivalent unit