Prepare a cost of production report for the Cutting Department of Borges Distributors for May 2006, using the following data and assuming that all materials are added at the beginning of the production process: Work in process, May 1, 8,000 units, 75% complete $70,400* * Direct materials (8,000 x $5.20) $41,600 Conversion costs (8,000 x 75% x $4.80) 28,800 $70,400 Materials added during May from Weaving Dept., 215,000 units 1,128,750 Direct labor for May 402,040 Factory overhead for May 603,060 Goods finished during May (includes goods in process, May 1), 214,000 units -- Work in process, May 31st, 9,000 units, 40% completed