Cost of Production Report: Average Cost Method

Use the average cost method with the following data:

Work in process, January 1, 4,800 units, 90% completed	$45,696
Materials added during January from Weaving Department, 90,700 units	838,975
Direct labor for January	209,953
Factory overhead for January	140,392
Goods finished during January (includes goods in process, January 1), 88,800 units
Work in process, January 31, 6,700 units, 30% completed

Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January using the average cost method. If required, round your cost per equivalent unit answer to two decimal 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
Units to be assigned costs:
	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
Cost per equivalent unit:
		Costs
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		$