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, 7,800 units, 60% completed. $104,364* Direct materials (7,800 x $10.20) $79,560 Conversion (7,800 x 60% x $5.30) 24,804 $104,364 Materials added during January from Weaving Department, 120,000 units Direct labor for January Factory overhead for January $1,242,000 278,366 340,226 Goods finished during January (includes goods in process, January 1), 121,400 units Work in process, January 31, 6,400 units, 35% 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 Units charged to production: For the Month Ended January 31 Inventory in process, January 1 Received from Weaving Department Unit Information Total units accounted for by the Cutting Department 7,800 120,000 127,800