Cost of Production Report: Average Cost Method

Use the average cost method with the following data:

Work in process, December 1, 4,300 units, 90% completed$36,722

Materials added during December from Weaving Department, 81,300 units 674,790

Direct labor for December 168,824

Factory overhead for December 112,744

Goods finished during December (includes goods in process, December 1), 79,600 units

Work in process, December 31, 6,000 units, 30% completed

make 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 ?

Units to be assigned costs:

Whole Units / Equivalent Units of Production

Transferred to finished goods in December

Inventory in process, December 31

Total units to be assigned costs

Cost Information

Costs per equivalent unit:

Costs

Total costs for December in Cutting Department $

Total equivalent units ?

Cost per equivalent unit $

Costs assigned to production:

Inventory in process, December 1 $

Costs incurred in December ?

Total costs accounted for by the Cutting Department$

Costs allocated to completed and partially completed units:

Transferred to finished goods in December $

Inventory in process, December 31 ?

Total costs assigned by the Cutting Department $