Cost of Production Report The Cutting Department of Tangu Carpet Company provide
ID: 2588062 • Letter: C
Question
Cost of Production Report The Cutting Department of Tangu Carpet Company provides the following data for Decomber 2016. Work in process, December 1, 14,600 units, 70% completed Assamie that all materials are added at the beginning of the procoess. 151,694 Direct materials (14,600 x $7.8) $113,880 37,814 $151,694 Conversion (14,600 x 70% × $3.7) Materials added during December from Weaving Department, 224,800 units Direct labor for December Factory overhead for December Goods finished during December (includes goeds in process, December 1), 227,400 units Wirk in process, December 31, 12,000 units, 25% completed $1,775,920 356,692 435,956 a. Prepare a cost of production report for the Cutting Department. If an amount is zero ar a blank, enter in "o" For the cost per equvalent unst computations, round your answers to two decimal places. Tangu Carpet Company Cost of Production Report Cutting Departme For the Month Ended December 31, 2016 Units charged to production Inventory in process, December Received from Weaving Department Total units accouited for by the Cutting Deapartment PreviousNext check My Work 4 more Check My Work uses remaningExplanation / Answer
b.
Tangu Carpet Company Cost of Production Report - Cutting Department For the month ended December 31, 2016 Unit Information Units charged to production : Inventory in process , December 1 14600 Received from weaving department 224800 Total units accounted for by the cutting department 239400 Units to be assigned costs : Whole units Equivalent units Material Conversion Inventory in process, Deceber 1 14600 0 4380 Started and completed in December 212800 212800 212800 Transferred to finished goods 227400 212800 217180 Inventory in process, Deceber 31 12000 12000 3000 Total equivalent units 224800 220180 Cost per equivalent unit Material Conversion Total costs for December in Cutting Department 1775920 792648 Total equivalent units 224800 220180 Cost per equivalent unit 7.90 3.60 Cost assignedto production: Material Conversion Total Inventory in process, December 1 151694 Costs incurred in December 2568568 Total costs accounted for by Cutting Department 2720262 Costs allocated to completed and partially completed units Material Conversion Total Inventory in process December 1 151694 To complete inventory in process , December 1 15768 15768 (4,380 x 3.60) Cost of completed December1, work in process 167462 Started and completed in December 1681120 766080 2447200 (Material 212,800 x $7.90 Conversion 212,800 x 3.60) Transferred to finished goods in December 2614662 Inventory in process December 31 94800 10800 105600 (Material 12,000 x $7.90,Conversion 3,000 x 3.60) Total costs assigned by the cutting department 2720262