Cest of Production Report Average Cost Method Use the average cost method with the following in procesy Materials added during 1.4.2001 ary from weg Department 1.400 Dret labor for January Factory overhead forary Goodshed dur i ndades work in process, January 31, 2,000 units, for completed equivalent unit answer to two decal places Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January using the average cost Da Carpet Company Cost of production Reporting Dement Inwory pro 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: Whole Units Equivalent Units of Production Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Cost Information Cost per equivalent unit: 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