Appendix EX 18-29 Cost of production report: average cost method Prepare a cost of production report for the Cutting Department of Tanner Carpet Company for December 2012. Use the average cost method with the following data: Work in process, December 1, 4,500 units, 75% completed Materials added during December from Weaving Department, 85,000 units Direct labor for December Factory overhead for December Goods finished during December (includes goods in process, December 1), 83,300 units Work in process, December 31,6,200 units, 10% completed $ 40,000 699,300 169,410 98,330 TANNER CARPET COMPANY Cost of Production Report - Cutting Department For the Month Ended December 31, 2012 UNITS Equivalent Units of Production Whole Units Units charged to production: Inventory in process, December 1 Received from Weaving Department Total units account for by the Cutting Department Units to be assigned cost: Transferred to finished goods in December Inventory in process, December 31 Total units to be assigned cost complete) COSTS Costs Unit costs: Total costs for December in Cutting Department Total equivalent units Cost per equivalent unit Costs charged to production: Inventory in process, December 1 Costs incurred in December Total costs accounted for by the Cutting Department Costs allocated to completed and partially completed units: Transferred to finished goods in December Inventory in process, December 31 Total costs assigned by the Cutting Department