P16-3A 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 two products in two different manufacturing plants are as follows. Cutting Department Plant 1 Plant 2 T12-Tables C10-Chairs -O- -0- 20,000 18,000 3,000 60 80 500 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete Cost Data-July Work in process, July 1 Materials Labor Overhead Total $ -o- 380,000 234,400 104,000 $718,400 $ -0- 288,000 110,000 104,800 $502,800 Instructions (a) For each plant: (1) Compute the physical units of production. (2) Compute equivalent units of production for materials and for conversion costs. (3) Determine the unit costs of production. (4) Show the assignment of costs to units transferred out and in process. (a) (3) T12 Materials $19 CC (4) T12: Transferred out $629,000 WIP $ 89,400 $18 (b) Prepare the production cost report for Plant 1 for July 2017. Assign costs and prepare production cost report. (LO 3, 4), AP