Preparing a production cost report, second department with beginning WIP; journal entries Carol Carpet manufactures broadloom carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing, and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion costs are incurred evenly throughout the process. Information for July 2022 follows: 65 rolls 570 rolls 520 rolls UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during July Completed during July Ending Work-in-Process Inventory (80% complete for conversion work) COSTS Beginning Work-in-Process Inventory (transferred in costs, 115 rolls $3,900; materials costs, $1,625; conversion costs, $5,555) $ 11,080 Transferred in from Spinning Department 19.595 Materials costs added during July 9.805 Conversion costs added during July (manufacturing 52.585 wages, $9,450; manufacturing overhead, $43,135) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. OceanBound uses weighted average process costing Requirements 1. Prepare a production cost report for the Testing Department. 2. What is the cost per unit for lifts completed and transferred out to Finished Goods Inventory? Why would management be interested in this cost