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, 10,600 units, 80% completed   $112,784*     *Direct materials (10,600 × $7.6) $80,560       Conversion (10,600 × 80% × $3.8) 32,224     $112,784   Materials added during January from Weaving Department, 163,200 units   $1,264,800 Direct labor for January   265,950 Factory overhead for January   325,051 Goods finished during January (includes goods in process, January 1), 165,200 units   — Work in process, January 31, 8,600 units, 35% completed   — a.  Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.   PLEASE SEE SCREENSHOT

Process Costing Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $564,000. The conversion cost for the period in the Rolling Department is $110,500 ($61,000 factory overhead applied and $49,500 direct labor). The total cost transferred to Finished Goods for the period was $600,000. The Rolling Department had a beginning inventory of $20,600. a1. Journalize the cost of transferred-in materials for the Rolling Department. If an amount box does not require an entry, leave it blank. a2. Journalize the conversion costs for the Rolling Department. If an amount box does not require an entry, leave it blank.. ED a3. Journalize the costs transferred out to Finished Goods for the Rolling Department. If an amount box does not require an entry, leave it blank. b. Determine the balance of Work in Process-Rolling at the end of the period.

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, 1,400 units, 75% completed.                     22,960*Direct materials (1,400 x $12.65)                                          $17,710 Conversion (1,400 x 75% x $5.00)                                            5,250                                                                                                 ___________                                                                                                  $22,960 Materials added in January from Weaving Department                     $742,40058,000 units. Direct labor for January                                                                         $134,550 Factory Overhead for January                                                              $151,611 Goods finished during Janaury…

Equivalent Units of Production The following information concerns production in the Finishing Department for July. The Finishing Department uses the weighted average cost (WAC) method. Work in Process-Finishing Department Date July 1 Bal., 20,000 units, 40% completed 31 Direct materials, 144,000 units started 31 Direct labor Item 24,600 345,000 163,200 31 Factory overhead 86,700 31 Goods transferred, 142,500 units -578,550 40,950 31 Bal., ? units, 60% completed a. Determine the number of units in work-in-process inventory at the end of the month. 68,250 X b. Determine the number of units to be accounted for and to be assigned costs and the equivalent units of production for July. Units to be accounted for Units to be assigned costs Equivalent units of production Feedback Previous Next

Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department Date Dec. Item 1 Bal., 6,600 units, 3/5 completed 31 Direct materials, 118,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 120,300 units 31 Bal., ? units, 3/5 completed Debit 190,080 53,490 30,090 Credit 276,492 ACCOUNT NO. Balance Debit 13,134 203,214 256,704 286,794 10,302 10,302 Credit a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process . Assuming that the direct materials cost is the same for November and December, did the…

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $109,020 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 7,900 units, 60% completed 118,026 30 Direct materials, 72,000 units 979,200 1,097,226 30 Direct labor 62,610 1,159,836 30 Factory overhead 86,450 1,246,286 30 Goods finished, 2 units ? 30 Bal., 6,300 units, 90% completed ? Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. b. Cost of units transferred to the next department during…

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.Description Dollar amountWork in process, January 1, 1,400 units, 75% completed $22,960Direct materials (1,400 x $13) $18,200Conversion (1,400 x 12) 16,800Total direct materials and conversion 35,000Materials added during January from weaving department, 58,000 units 745,000Direct labor for January 134,550Factory overhead for January 151,661Goods finished during January (includes goods in process, January 1), 56,200 units ?Work in process, January 31, 3,200 units, 30% completed ?a. Find the missing values in the last two rowsb. Prepare a cost of production report for the Cutting Department. c. Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from the previous month (December

a.  Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.   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, 8,200 units, 65% completed   $103,894*     *Direct materials (8,200 × $10.2) $83,640       Conversion (8,200 × 65% × $3.8) 20,254     $103,894   Materials added during January from Weaving Department, 126,400 units   $1,301,920 Direct labor for January   219,708 Factory overhead for January   268,533 Goods finished during January (includes goods in process, January 1), 127,800 units   — Work in process, January 31, 6,800 units, 40% completed   — Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Number of…

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, 10,400 units, 80% completed   $128,128*     *Direct materials (10,400 × $8.00) $83,200       Conversion (10,400 × 80% × $5.40) 44,928     $128,128   Materials added during January from Weaving Department, 160,000 units   $1,304,000 Direct labor for January   387,313 Factory overhead for January   473,382 Goods finished during January (includes goods in process, January 1), 161,800 units   — Work in process, January 31, 8,600 units, 35% completed a.  Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.   b.  Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from…

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $33,320 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 3,400 units, 70% completed     38,080       30 Direct materials, 31,000 units 294,500     332,580       30 Direct labor 28,000     360,580       30 Factory overhead 38,675   ?   399,255       30 Goods finished, ? units     ?       30 Bal., 2,700 units, 90% completed     ?       Cost per equivalent units of $9.50 for Direct Materials and $2.10 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers…