Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 8,600 units, 55% completed $106,984* Direct materials (8,600 x $9.80) $84,280 Conversion (8,600 x 55% x $4.80) 22,704 $106,984 Materials added during January from Weaving Department, 132,400 units Direct labor for January Factory overhead for January $1,310,760 291,986 356,872 Goods finished during January (Includes goods in process, January 1), 134,000 units Work in process, January 31, 7,000 units, 45% completed a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places. Karachi Carpet Company Cost of Production Report-Cutting Department For the Month Ended January 31 Units charged to production: Inventory in process, January 1 Received from Weaving Department Unit Information Total units accounted for by the Cutting Department) Units to be assigned costs: Equivalent Units Whole Direct