PRODUCTION REPORT, WEIGHTED AVERAGE Kinnamon Inc. manufactures bicycle frames in two departments: Cutting and Welding.

Kinnamon uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the cutting department for October:

Production:
Units in process, October 1, 40 percent complete 5,000 Units completed and transferred out 34,000 Units in process, October 31, 60 percent complete 10,000 Costs:
WIP, October 1 $ 40,000 Costs added during October 760,000 Required:
Prepare a production report for the cutting department.
Cornerstone Exercise