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Cost of Production Report The Cuttina Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Prepare a cost of production report for the 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 Depaitment Units t beassigned costs: Equivalent Units Whole units inventony in process inuary 1 . Started and completed in Januery Iransferred to finished goods in lannuary Inventoncininprocess. January 31 . Total units to be assioned cost: ecostinformation: Direct Materials Cost perequivalentunit: -Total costs for- anuary in cutting Depainment Totallequivalent units. Costper equivalent unit - Costsassigned to production: -Inventory in process, lanuary 1 Costsincurred in January Total-costs accounted for by the cutting Department costs allocated to completed-and partially completed units: Inventory in process, January 1 started and completed in January Transferred to finished goods in January Inventory in process, January 31 215,600 212,960 Total units to be assigned cost Cost Information Cost per equivalent unit: 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