Concord Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows, Cutting Department Production Data-July T12-Tables Work in process units, July 1 0 Units started into production 20,800 Work in process units, July 31 3,120 Work in process percent complete 60 Cost Data - July Work in process, July 1 Materials Labor Overhead Total $0 395.200 243.776 108.160 5747,136 X Your answer is incorrect. Compute the physical units of production T12 Tables Units to be accounted for eTextbook and Media Your answer is partially correct Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs 20,800 22.672 T12 Tables Determine the unit costs of production Materials Total Costs Conversion Costs 19 $ $ 16 Unit costs-T12 Tables e Textbook and Media Show the assignment of costs to units transferred out and in process T12 Tables Costs accounted for: Transferred out Work in process Materials Conversion costs Total costs e Textbook and Media Prepare the production cost report for July 2020, CONCORD INDUSTRIES INC. Cutting Department-Plant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Work in process. July 1 Started into production Total units Units accounted for Transferred OUR Workin process, July 31 Total units huhe DI! DON Conversion Costs Materials Costs Unit Cot Tot Costs Equivalent 19 Unit costs Contato Conversion Costs Materials Costs Unit costs Total Costs Equivalent units Unit costs 144 UH Costs to be accounted for Work in process, July 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 $ Materials Conversion E Total costs e Textbook and Media Conversion Costs Materials Total