The Petersburg Carpet Company produces its product through two processing departments: Cutting and Assembly. The Cutting...
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The Petersburg Carpet Company produces its product through two processing departments: Cutting and Assembly. The Cutting department has provided you with the following data for January. Direct Materials Conversion Units Percent Complete Percent Complete Beginning work in process inventory 35,000 Units started this period 150,000 Units completed and transferred 160,000 out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 25,000 100% 80% $ 20,100 75,400 $ 95,500 192,650 1,040,600 1,233,250 $ 1,328,750 Requirement a. As the cost accountant/manager, prepare a cost of production report for the Cutting Department. b. Considering the current economic condition, would you recommend your company outsource the raw materials from China or get them from the U.S.? Explain the reason for your decision. The Petersburg Carpet Company produces its product through two processing departments: Cutting and Assembly. The Cutting department has provided you with the following data for January. Direct Materials Conversion Units Percent Complete Percent Complete Beginning work in process inventory 35,000 Units started this period 150,000 Units completed and transferred 160,000 out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 25,000 100% 80% $ 20,100 75,400 $ 95,500 192,650 1,040,600 1,233,250 $ 1,328,750 Requirement a. As the cost accountant/manager, prepare a cost of production report for the Cutting Department. b. Considering the current economic condition, would you recommend your company outsource the raw materials from China or get them from the U.S.? Explain the reason for your decision.
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