Cost of Production Report: Weighted Average Cost Method Use the weighted average cost method with the following data: Work in process, January 1, 4,700 units, 10% completed $50,995 Materials added during January from Weaving Department, 88,800 units 935,952 Direct labor for January 241,155 Factory overhead for January 190,458 Goods finished during January (includes goods in process, January 1), 86,900 units Work in process, January 31, 6,600 units, 70% completed Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January. If required, round your cost per equivalent unit answer to two decimal places. Dalton 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: Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Whole Equivalent Units Units of Production Costs per equivalent unit: Cost Information Costs Total costs for January in Cutting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Cutting Department Costs allocated to completed and partially completed units: Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Cutting Department