Current Attempt in Progress Thakin 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 DataJuly Work in process units, July 1 T12-Tables 0 Units started into production 24,800 Work in process units, July 31 3,720 Work in process percent complete 60 Cost DataJuly Work in process, July 1 $0 Materials 471,200 Labor 290,656 Overhead 128,960 Total $890,816 Compute the physical units of production. Units to be accounted for T12 Tables Compute equivalent units of production for materials and for conversion costs. T12 Tables Materials Determine the unit costs of production. Materials Unit costs-T12 Tables $ Conversion Costs $ Conversion Costs $ Total Costs Compute equivalent units of production for materials and for conversion costs. The equivalent units of production Materials Conversion Costs Determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.) Unit costs $ Materials Conversion Costs $ Show the assignment of costs to units transferred out and in process. Units transferred out $ Units in ending work in process $ View Policies Current Attempt in Progress Baden Company has gathered the following information. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Costs incurred: Direct materials Direct labor Overhead 0 41,600 7,600 40 % 100 % $74,880 $67,000 $101,532 Costs accounted for: Transferred out Work in process Materials T12 Tables Conversion costs Total costs A $ Quantities Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Physical Units THAKIN INDUSTRIES INC. Cutting Department-Plant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Materials Conversion Costs Costs Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, July 1 Started into production Total costs $ $ Materials $ Conversion Costs $ $ $ $ Tc Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs $ $ $