Answered step by step
Verified Expert Solution
Question
1 Approved Answer
eBook Question Content Area Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials
eBook Question Content Area 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. Line Item Description Amount Amount Work in process, January units, completed $ Direct materials times $ $ Conversion times times $ Total $ Materials added during January from Weaving Department, units $ Direct labor for January Factory overhead for January Goods finished during January includes goods in process, January units Work in process, January units, completed a Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in For the cost per equivalent unit computations, round your answers to two decimal places. Karachi Carpet Company Cost of Production ReportCutting Department For the Month Ended January Units Whole Units Equivalent Units Direct Materials Equivalent Units Conversion Units charged to production: Inventory in process, January fill in the blank Received from Weaving Department fill in the blank Total units accounted for by the Cutting Department fill in the blank Units to be assigned costs: Inventory in process, January fill in the blank fill in the blank fill in the blank Started and completed in January fill in the blank fill in the blank fill in the blank Transferred to finished goods in January fill in the blank fill in the blank fill in the blank Inventory in process, January fill in the blank fill in the blank fill in the blank Total units to be assigned costs fill in the blank fill in the blank fill in the blank Costs Costs Direct Materials Conversion Total Costs Cost per equivalent unit: Total costs for January in Cutting Department $fill in the blank $fill in the blank Total equivalent units fill in the blank fill in the blank Cost per equivalent unit $fill in the blank $fill in the blank Costs assigned to production: Inventory in process, January $fill in the blank Costs incurred in January fill in the blank Total costs accounted for by the Cutting Department $fill in the blank Cost allocated to completed and partially completed units: Inventory in process, January balance $fill in the blank To complete inventory in process, January $fill in the blank fill in the blank Cost of completed January work in process $fill in the blank Started and completed in January fill in the blank fill in the blank fill in the blank Transferred to finished goods in January $fill in the blank Inventory in process, January fill in the blank fill in the blank fill in the blank Total costs assigned by the Cutting Department $fill in the blank 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. Line Item Description Increase or Decrease Amount Change in direct materials cost per equivalent unit $fill in the blank Change in conversion cost per equivalent unit $fill in the blank
eBook
Question Content Area
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.
Line Item Description Amount Amount
Work in process, January units, completed $
Direct materials times $ $
Conversion times times $
Total $
Materials added during January from Weaving Department, units $
Direct labor for January
Factory overhead for January
Goods finished during January includes goods in process, January units
Work in process, January units, completed
a Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in For the cost per equivalent unit computations, round your answers to two decimal places.
Karachi Carpet Company
Cost of Production ReportCutting Department
For the Month Ended January
Units Whole Units Equivalent Units
Direct Materials Equivalent Units
Conversion
Units charged to production:
Inventory in process, January fill in the blank
Received from Weaving Department fill in the blank
Total units accounted for by the Cutting Department fill in the blank
Units to be assigned costs:
Inventory in process, January fill in the blank
fill in the blank
fill in the blank
Started and completed in January fill in the blank
fill in the blank
fill in the blank
Transferred to finished goods in January fill in the blank
fill in the blank
fill in the blank
Inventory in process, January fill in the blank
fill in the blank
fill in the blank
Total units to be assigned costs fill in the blank
fill in the blank
fill in the blank
Costs
Costs Direct Materials Conversion Total Costs
Cost per equivalent unit:
Total costs for January in Cutting Department $fill in the blank
$fill in the blank
Total equivalent units fill in the blank
fill in the blank
Cost per equivalent unit $fill in the blank
$fill in the blank
Costs assigned to production:
Inventory in process, January $fill in the blank
Costs incurred in January fill in the blank
Total costs accounted for by the Cutting Department $fill in the blank
Cost allocated to completed and partially completed units:
Inventory in process, January balance $fill in the blank
To complete inventory in process, January $fill in the blank
fill in the blank
Cost of completed January work in process $fill in the blank
Started and completed in January fill in the blank
fill in the blank
fill in the blank
Transferred to finished goods in January $fill in the blank
Inventory in process, January fill in the blank
fill in the blank
fill in the blank
Total costs assigned by the Cutting Department $fill in the blank
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.
Line Item Description Increase or Decrease Amount
Change in direct materials cost per equivalent unit
$fill in the blank
Change in conversion cost per equivalent unit
$fill in the blank
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started