Cost of Production Report: Average Cost Method

Use the average cost method with the following data:

Work in process, December $1,6,000$ units, $70\%$ completed

Materials added during December from Weaving Department, $113,400$ units

Direct labor for December

Factory overhead for December

$$43,260$

$793,800$

$195,832$

$119,060$

Goods finished during December $($includes goods in process, December

$,111,000$ units

Work in process, December $31,8,400$ units, $10\%$ completed

Prepare a cost of production report for the Cutting Department of Tanner Carpet Company for December $2016$ using the average cost method. If required, round your per equivalent unit answer to two decimal places.