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, 14,600 units, 75% completed *Direct materials (14,600 x $7.40) Conversion (14,600 x 75% x $4.80) , Materials added during January from Weaving Department, 224,800 units Direct labor for January Factory overhead for January Goods finished during January (includes goods in process, January 1), 227,400 units Work in process, January 31, 12,000 units, 30% 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 Unit Information Units charged to production: Inventory in process, January 1 Received from Weaving Department Total units accounted for by the Cutting Department Units to be assigned costs: Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Equivalent Units Whole Direct Units Materials Conversion Total units to be assigned cost Cost Information Cost per equivalent unit: Direct $10