Crane Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are added 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 Work in process units, July 1 T12-Tables 0 Units started into production 16,400 Work in process units, July 31 2,460 Work in process percent complete as to conversion, July 31 60% Cost Data-July Work in process, July 1 $0 Direct materials used in July 311,600 Direct labor incurred in July 192,208 Manufacturing overhead assigned in July 85,280 Total $589,088 (a2) Compute equivalent units of production for materials and for conversion costs. Materials Total equivalent units 23,000 Conversion Costs Determine the unit costs of production for July. Unit costs-T12 Tables Materials Conversion Costs Total Costs T12 Tables Costs accounted for: Completed and transferred out Work in process Materials Conversion costs Total costs +A +A $ Cost Reconciliation Schedule Costs to be accounted for Work in process, July 1 Started into production Total costs Costs accounted for Completed and transferred out Work in process, July 31 Materials Conversion costs +A Prepare the production cost report for July 2022. CRANE INDUSTRIES INC. Cutting Department Production Cost Report Quantities Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Completed and transferred Physical Units Materials Equivalent Units Conversion Costs Total units Units accounted for Completed and transferred out Work in process, July 31 Total units Costs Unit costs Total Costs Equivalent units Unit costs Conversion Materials Costs T 5