Cost of Production Report: Average Cost Method Use the average cost method with the following data: Work in process, December 1, 5,500 units, 60% completed $51,205 Materials added during December from Weaving Department, 103,900 939,256 units Direct labor for December 233,426 Factory overhead for December 149,205 Goods finished during December (includes goods in process, December 1), 101,700 units Work in process, December 31, 7,700 units, 20% completed Prepare a cost of production report for the Cutting Department of Tanner Carpet Company for December 2016 using t 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 Units to be assigned costs: