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, 55% completed $160,965 "Direct materials (14,600 x 38.00) $116,800 Conversion (14,600 x 55% x $5.50) 19,165 $160,965 Materials added during January from Weaving Department, 224,800 units $1,832,120 Direct labor for January 546,191 Factory overhead for January 667,567 Goods finished during January (includes goods in process, January 1), 227.400 units Work in process, January 31, 12,000 units, 45% completed o. Prepare a cost of production report for the cutting Department. If an amount is zero or a blank, enter in "o". 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 14.600 tion 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: 14,600 224.800 239.400 I Whole Units Equivalent Units Direct Materials Conversion 6,570 14,600 212.800 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 212.800 212.800 227.400 212,800 219,370 12.000 12.000 5.400 239.400 224,800 224.770 Cost per equivalent unit: Cost Information Total costs for January in Cutting Department Direct Materials Conversion 1.832.120 $ Check My Work