Cost of Production Report: Average Cost Method Use the average cost method with the following data: Work in process, December 1, 6,800 units, 60% completed $38,080 Materials added during December from Weaving Department, 128,500 699,040 units Direct labor for December 173,672 Factory overhead for December 110,808 Goods finished during December (includes goods in process, December 1), 125,800 units Work In process, December 31, 9,500 units, 20% completed Prepare a cost of production report for the Cutting Department of Tanner Carpet Company for December 2016 using the average cost method. If required, round your cost per equivalent unit answer to two decimal places. Tanner Carpet Company Cost of Production Report-Cutting Department For the Month Ended December 31, 2016 Unit Information Units charged to production: Inventory in process, December 1 Received from Weaving Department Total units accounted for by the Cutting Department 1000