Calculator Cost of Production Report: Average Cost Method Use the average cost method with the following data: $25,452 Work in process, January 1, 3,600 units, 20% completed Materials added during January from Weaving Department, 68,000 units 467,160 Direct labor for January Factory overhead for January Goods finished during January (includes goods in process, January 1). 66,600 units 119,503 90,845 Work in process, January 31, 5,000 units, 60% completed Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January. If required, round your cost per equivalent unit answer to two decima places Dalton Carpet Company Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 Received from Weaving Department Total units accounted for by the Cutting Department Whole Units Equivalent Units of Production Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Cost Information Costs per equivalent unit: Total costs for January in Cutting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Cutting Department Costs allocated to completed and partially completed units: Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Cutting Department