Cost of Production Report: Average Cost Method Use the average cost method with the following data: Work in process, December 1, 6,800 units, 10% completed $69,496 Materials added during December from Weaving Department, 128,500 units 1,276,005 Direct labor for December 328,741 Factory overhead for December 259,528 Goods finished during December (includes goods in process, December 1), 125,800 units Work in process, December 31, 9,500 units, 70% 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 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 $