eBook Calculator 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, 12,600 units, 65% completed $124,488* *Direct materials (12,600 x $7.80) $98,280 Conversion (12,600 x 65% x $3.20) 26,208 $124,488 Materials added during January from Weaving Department, 194,000 units Direct labor for January Factory overhead for January $1,542,300 286,145 349,732 Goods finished during January (includes goods in process, January 1), 196,200 units Work in process, January 31, 10,400 units, 45% completed a. 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 12,600 Dolfram Alain Manartma 194.000 ULIL TUNTIALIUM Units charged to production: Inventory in process, January 1 12,600 Received from Weaving Department 194,000 206,600 Total units accounted for by the Cutting Department Units to be assigned costs: Equivalent Units Direct Materials Conversion Whole Units Inventory in process, January 1 12,600 4,410 Started and completed in January 183,600 183,600 183,600 Transferred to finished goods in January 196,200 183,600 188,010 Inventory in process, January 31 10,400 10,400 4,680 Total units to be assigned cost 206,600 194,000 192,690 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 Inventorv in process. January 1 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