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. Line Item Description Amount Amount Work in process, January 1, 10,800 units, 55% completed $112,536* *Direct materials (10,800 $8.00) $86,400 Conversion (10,800 55% $4.40) 26,136 Total $112,536 Materials added during January from Weaving Department, 166,400 units $1,347,840 Direct labor for January 318,617 Factory overhead for January 389,421 Goods finished during January (includes goods in process, January 1), 168,400 units Work in process, January 31, 8,800 units, 25% completed a. Prepare a cost of production report for the Cutting Department