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, 7,000 units, 65% completed $77,490* *Direct materials (7,000 x $8.60) $60,200 Conversion (7,000 x 65 % x $3.80) 17,290. $77,490 Materials added during January from Weaving Department, 108,000 units $945,000 Direct labor for January Factory overhead for January 178,588 218,274 Goods finished during January (includes goods in process, January 1), 109,200 units Work in process, January 31, 5,800 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 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 Units to be assigned costs Equivalent Units