Calculator Cost of Production Report: Average Cost Method Use the average cost method with the following data: work in process, January 1, 3,400 units, 75% completed Materials added during January from Weaving Department, 64,000 units Direct labor for January Factory overhead for January Goods finished during January (includes goods in process, January 1), 63,500 units work in process, January 31, 3,900 units, 10% completed Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January 2016 using th equivalent unit answer to the nearest cent. $23,000 366,200 105,100 80,710 Dalton Carpet Company Cost of Production Report-Cutting Department For the Month Ended January 31, 2016 Unit Information Units charged to production: Inventory in process, January 1 Received from Weaving Department 3,400 64,000 Total unts accounted for by the Cutting Department67,400 Units to be assigned costs